Vodafone Idea and Airtel are Indian telecommunications companies. They posted $10.3 billion in combined quarterly losses. These are 2 of the top 3 telecom operators in India. Vodafone Idea in India's 2nd largest telecom operator by subscriber count. Its consolidated loss had become $7.14 billion in the quarter that ended in September. This was the largest quarterly loss ever seen in the nation on Thursday.
A similar situation happened with India's 3rd largest telecom operator. Bharti Airtel posted a consolidated net loss of $3.23 billion.
The U.K.-headquartered Vodafone owns 45% of Vodafone Idea. Recently, those executives have said that the group's telecom business in India could collapse if the government does not provide any relief.
Bharti Airtel is also hopes that the government will help out.