Vodafone logs 7.6-billion-euro annual loss

  • Tuesday 14, May 2019 11:08 AM
  • Vodafone logs 7.6-billion-euro annual loss
Sharjah 24 – AFP: British telecoms giant Vodafone announced Tuesday that it recorded a vast annual loss of 7.6 billion euros ($8.5 billion), hit by the sale of its Indian assets.
The loss after tax in Vodafone's 2018/2019 financial year to the end of March contrasted with profit of just under 2.8 billion euros last time around, it said in a results statement.

"The loss for the financial year of 7.6 billion euros was primarily due to a loss on disposal of Vodafone India (following the completion of the merger with Idea Cellular) and impairments," Vodafone said.