KOLKATA: Earnings of telecom companies Bharti Airtel, Idea Cellular and Reliance Communications may take a sharp hit in 2016-17, weighed down by higher amortization and interest costs after buying expensive spectrum, analysts say. Increased costs, along with a likely delay in the launch of Reliance Jio Infocomm’s service, may result in some tariffs going up, they said. Market leader Bharti Airtel’s net profit may dip 8% in the financial year starting April 1, 2016, US brokerage Morgan Stanley estimated, while that of Idea Cellular and RCom are set to decline 27% and 26%, respectively, factoring in higher interest and depreciation outflows.
MUMBAI: Facebook is set to launch internet.org, an initiative to provide internet access to those who don’t have it, in India through a tie-up with Reliance Communications, two people familiar with the development said. The social media giant and India’s fourth largest mobile operator have called a joint press conference in Mumbai on Tuesday for, what the invite says, “one launch that will make a billion dreams take off”.