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back to article Vodafone blames €5bn H1 loss on cutthroat Indian competition

Vodafone struggled with declining revenues and profits in its first half of this fiscal year, despite blaming its €5bn net loss on a writedown of its Indian arm's value thanks to increased competition. The British telco, which from April this year has been counting its coins in euros instead of pounds, recorded a net loss of € …

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  1. djstardust

    Or it could be .....

    Large swathes of the UK stuck on Edge or GPRS when their tracker shows 4G.

    Or perhaps their terrible CS that actually is in India.

    I have no sympathy for them. Profits before punters all the time and now they are pissing off their resellers by cutting contract retention bonuses.

    Horrible company.

    4 0 Reply
    1. gv
      Reply Icon

      Re: Or it could be .....

      I agree. The mid-contract price hikes were enough for me to move from them. Unfortunately, they then bought my ISP, the one I had been with since I first went online, and then cut the bundled email service. That was enough for me to rouse myself from my lethargy and I cut my service with them.

      3 0 Reply
    2. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: Or it could be .....

      I have no sympathy for them.

      I doubt they care. As bloody usual, Vodafone have a multi-billion quid writedown. Year after year, they have some excuse as to why they have these epic losses, but by treating every one as an "exceptional item" they can still claim that they made a profit in either operating or "adjusted" terms. So this half year, it was a nice €859m profit, and oh...whoops...fell through our fingers...look a €5bn loss. Same time last year it was €928m profit and oh...whoops...fell through our fingers...look a €2.3bn loss. Vodafone have been doing this for years, and the lazy dogf*ckers of institutional shareholders let them get away with it, time after time after time after time...ad nauseum.

      You can be the Rent-a-Director tw@ts of Vodafone's board have their bonuses based on on the "adjusted" or operating profits. Personally I'd hang the entire board.

      3 0 Reply
    3. Hans Neeson-Bumpsadese Silver badge
      Reply Icon

      Re: Or it could be .....

      Large swathes of the UK stuck on Edge or GPRS when their tracker shows 4G.

      Or perhaps their terrible CS that actually is in India.

      I have no sympathy for them. Profits before punters all the time and now they are pissing off their resellers by cutting contract retention bonuses.

      The sad thing is, you could say that about any mobile phone company.

      They're all as bad as each other, which is why they continue to get away with it.

      2 0 Reply
  2. Anonymous Coward
    Anonymous Coward

    Italy showing modest increases in revenues

    At least here, Vodafone reacted to EU ban increasing every customer costs... I'm not surprised of that "modest" increase...

    1 0 Reply
  3. John Smith 19 Gold badge
    Unhappy

    So dropped 170m due to no longer being able to impose EU roaming charges

    Now you know how much they were stripping off their customers.

    Of course if they are quoting in Euros and the UK has had a Brexit how long does having their HQ in the UK continue to make sense?

    3 0 Reply
    1. Loud Speaker
      Reply Icon

      Re: So dropped 170m due to no longer being able to impose EU roaming charges

      how long does having their HQ in the UK continue to make sense?

      Let them take it elsewhere. And the rest of their business. Preferably to a galaxy far away.

      0 2 Reply
  4. analyzer

    they forgot something

    How many people left after their new all singing all dancing billing system screwed up everything and couldn't be sorted out as was my case?

    0 0 Reply
  5. bealedave

    Selling US operations for India was always mad

    Like other businesses where a CEO with vested interests was allowed by the board to spend the companies resources on what they wanted, they divested their high value assets to buy into a 3rd world operation with obvious low returns.

    I worked for Vodafone and watched them steal capital from all of the growing 1st world markets, avoid diversifying and ignoring the value in their brand.

    It was sad as we had all worked so long and hard to build it in the first place.

    I bet they all paid themselves bonuses, the management should all hang their heads in shame and fall on their swords, but they won't, they will keep bleeding it until it becomes a corpse.

    0 0 Reply

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