- Vodafone Idea raised prices on some postpaid family packs by 7% to 9%
- Two-connection plan now costs Rs 751, up from Rs 701 earlier
- Four-connection plan price increased from Rs 1,201 to Rs 1,301
Vodafone Idea Ltd has increased prices for some of their postpaid family packs by 7% to 9%, Morgan Stanley said in a note on Wednesday.
A plan, which provides two connections, now costs Rs 751, compared to the earlier Rs 701. Similarly, the four-connection plan for Rs 1,201 will now cost Rs 1,301. Lastly, the pricing for the five connection plan has been revised to Rs 1,525 from Rs 1,401.
Earlier, the plans used to be comparable to Bharti Airtel in terms of their affordability and charge per GB, but now they have become 7-9% more expensive than them, MS noted.
In the start of January the telecom operator had received a Rs 638-crore GST penalty order from the Office of Additional Commissioner, Central Goods and Service Tax, Ahmedabad. In the exchange filing, Vodafone Idea had said it disagrees with the order and will take legal action against it. "The maximum financial impact is to the extent of tax demand, interest, and penalty levied. The company does not agree with the order and will take appropriate legal action(s) against the same," the filing stated.
The filing came a day after VI was granted a major relief on its adjusted-gross-revenue dues as the Union Cabinet decided to freeze its dues along with a five-year payment moratorium and allowing capped AGR dues to be reassessed.
Vodafone Idea Share Price
Vodafone Idea's stock ended 0.89% at Rs 10.22 apiece on the NSE on Wednesday, compared to a 0.30% decline in the Nifty index. The share price has risen 9.19% in the last 12 months.
ALSO READ: Vodafone Idea Shares: Should You Buy, Sell Or Hold? Brokerages Weigh In Amid AGR Relief Talks
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