Vodafone Idea cuts off 25,000 retail partners in cost-cutting move
Vodafone Idea has specifically targeted partners within the multi-brand retailer segment and ceased commission payments to them.
Hyderabad: In a cost-cutting move, Vodafone Idea has reportedly removed approximately 25,000 retail partners throughout the country. The company has specifically targeted partners within the multi-brand retailer segment and ceased commission payments to them.
According to an Economic Times story, Vodafone Idea maintains a broad network of 4-5 lakh retail contact points across India, with a sizable fraction of them being multi-brand stores that serve all cellular service providers. Several of the abandoned shops had negative returns for Vi in terms of client acquisition expenses.
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During the March quarter, Vodafone Idea witnessed a reduction in its consolidated loss, amounting to Rs 6,418.9 crore. Simultaneously, the company’s revenue from operations demonstrated a 3% increase, reaching 10,531.9 crore compared to Rs 10,239.5 crore in the corresponding period of the previous year.
Notably, Vodafone Idea achieved its first-ever annual growth in revenue from operations following the merger. The company’s consolidated revenue from operations experienced a substantial growth of 9.5%, totaling Rs 42,177.2 crore compared to Rs 38,515.5 crore in the previous year.
Vodafone Idea attributed the annual revenue growth to factors such as tariff hikes, an improved subscriber mix, and the addition of 4G subscribers.
