MUMBAI -- India's telecom majors Bharti Airtel and Vodafone Idea have reported a combined $10 billion in quarterly net losses after making provisions to cover to a recent Supreme Court ruling ordering two companies to pay huge fees and penalties within three months.
Singapore Telecommunications-backed Bharti Airtel's loss burgeoned to 230.4 billion rupees ($3.2 billion) for the quarter, while Vodafone Idea recorded a loss of 509.2 billion rupees, the two companies announced on Thursday. According to local daily Business Standard, Vodafone Idea's loss is the highest-ever for an Indian company.
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