You Broadband FY19 net loss widens to Rs 41.84 cr
MUMBAI: Vodafone Idea-owned You Broadband India’s net loss for the fiscal ended 31st March 2019 has widened to Rs 41.84 crore as against Rs 25.71 crore in the previous fiscal.
Profit before finance costs, depreciation, amortisation, exceptional items, and tax grew to Rs 25.8 crore compared to Rs 39.6 crore. Total income jumped to Rs 190.6 crore from Rs 185.1 crore. Operating expenditure stood at Rs 165 crore as against Rs 145.5 crore.
You Broadband became the subsidiary of the Company effective August 31, 2018. YBIL is engaged in providing high-speed broadband internet access through cable network, high bandwidth internet broadband services to enterprise segment, infrastructure support to licensed telecommunication service providers.
The company had slipped into the red with a net loss of Rs 25.7 crore during the fiscal ended 31st March 2018 as against a net profit of Rs 20.3 crore in the previous fiscal.
The internet service provider’s (ISP) revenue for the fiscal had expanded to Rs 180.7 crore compared to Rs 170 crore in the trailing fiscal.
Crisil had earlier withdrawn its rating on the short-term bank facilities of You Broadband India. The ratings on the proposed short-term loans have been withdrawn based on the company’s request as it has not utilised the facilities.
As reported earlier, You Broadband had an aggressive expansion plan entailing a Capex of over Rs 600 crore in the next two fiscals, against a CAPEX of Rs 54 crore in fiscal 2017. The company intended to fund the Capex through a vendor financing arrangement with a credit period of a year.
You Broadband was fully acquired by Vodafone India with effect from June 2017. Vodafone recently merged with Idea Cellular to create India’s largest telecom company in terms of revenue and subscribers.