Vodafone is set to reveal an annual loss of as much as €4.9bn due to writedowns on its Indian arm

Courtney Goldsmith
Follow Courtney
Vodafone Annual Press Conference
Vodafone is set to reveal a loss due to a writedown in India (Source: Getty)

Telecoms giant Vodafone is expected to unveil a multibillion-pound annual loss this week due to fierce competition in the Indian mobile phone market.

The FTSE 100 firm is forecast to report a pre-tax loss of between €3.8bn and €4.9bn (between £3.2bn and £4.1bn) for the year to the end of March when it reveals its earnings on Tuesday, the Sunday Times reported.

The loss comes after a €6.4bn writedown of the firm's Indian division, which it announced back in November.

Underlying profits are set to be €13.8bn, down from €15.8bn the previous year, while the firm's dividend is seen rising to 14.63 cents from 11.45 cents the year before.

Heated competition in the British telecoms market is also set to make a mark. The firm is expected to report a four per cent dip in annual UK revenue after last week BT, TalkTalk and Virgin Media owner Liberty Global all warned profit growth in Britain would be weaker than expected.

Read more: BT chops 4,000 jobs as it dials in the changes overseas

Vodafone is merging its Indian business with rival Idea Cellular to create the country's biggest mobile operator. The move will reduce the firm's debts by €8bn.

Related articles