Gary Rossington, the guitarist and founding member of the band Lynyrd Skynyrd, died at 71 on Sunday, March 5, 2023. He was the last surviving original member of the band Lynyrd Skynyrd, which was about to embark on its next tour in four months.

Gary Rossington, the guitarist and founding member of the band Lynyrd Skynyrd, died at 71 on Sunday, March 5, 2023. He was the last surviving original member of the band Lynyrd Skynyrd, which was about to embark on its next tour in four months. Guitarist Gary Rossington had been facing health issues for decades. He had a heart attack in 2015, followed by emergency heart surgery in 2021. Billboard magazine interviewed Gary Rossington in 2016. During the interview, he mentioned his decision to continue playing for Lynyrd Skynyrd despite his health issues. Lynyrd Skynyrd wrote an official statement on Gary Rossington's death. It said, "It is with our deepest sympathy and sadness that we have to advise that we lost our brother, friend, family member, songwriter and guitarist, Gary Rossington, today." It continued, "Gary is now with his Skynyrd brothers and family in heaven and playing it pretty like he always does." Here are all the details about Gary Rossington, the guitarist and founding member of Lynyrd Skynyrd. We have mentioned everything about the artists' career, net worth and cause of death. Gary Rossington & Lynyrd Skynyrd Gary Rossington hails from Jacksonville, Florida. He was born in 1951 and joined Lynyrd Skynyrd in 1964. The trio was 'Me, You, and Him' back then. The original members of Lynyrd Skynyrd were Larry Junstrom, the bassist, and Bob Burns, the drummer. Gary Rossington wanted to play baseball earlier but turned to music after hearing Rolling Stones. Gary Rossington and the other two members of Lynyrd Skynyrd, Burns and Junstrom met Ronnie Van Zant. Zant played in a rival baseball team. They jammed together in the carport of Burns' house. Lynyrd Skynyrd got its name from Leonard Skinner, a strict teacher at 16-year-old Rossington'a school. He had a policy against boys with long hair. He suspended Gary Rossington for having long hair, who later dropped out of school. Lynyrd Skynyrd released their first album in 1973. Gary Rossington co-wrote Sweet Home Alabama, one of their most famous songs. In 1977, Van Zant died in a plane crash. However, Rossington survived the plane crash along with 21 other people. Gary Rossington: Family & Net Worth Gary Robert Rossington married Dale Krantz Rossington in 1982. They have two daughters and several grandchildren. According to celebritynetworth.com, Gary Rossington's net worth is around $40 million. The lead member of Lynyrd Skynyrd since 1977, Johnny Van Zant, once said, "I don't think you can have Lynyrd Skynyrd without Gary Rossington." Gary Rossington: Cause of Death Not much information is available about Gary Rossington's cause of death. Rossington's family has not issued any statement yet. Moreover, Lynyrd Skynyrd's official statement did not mention the cause of death.

Who was Gary Rossington? Lynyrd Skynyrd Guitarist, who died at 71, Know his cause of death, net worth, family

Ajay Banga, who has been nominated as the head of the World Bank, was working as Mastercard's chief operating officer where he drew a whooping salary of Rs 5.2 million per day, as per reports.

US President Joe Biden has&nbsp;nominated Ajay Banga for the post of World Bank's head. If his nomination is approved by the board of directors, he will be the first person of Indian origin to hold the prestigious position.

He has also been praised by Biden for his expertise on topics like climate change. Last year, Ajay Banga retired from Mastercard. Currently, he is the equity firm General Atlantic's vice chairman.

ALSO READ | <a href="https://www.wionews.com/india-news/explained-everything-about-ajay-banga-indian-american-executive-nominated-to-lead-the-world-bank-565263">EXPLAINED | Everything about Ajay Banga, Indian-American executive nominated to lead the World Bank</a>

Before joining Mastercard, Ajay Banga worked with Citigroup and Nestle in India. He is also the chairman of the Dutch investment firm “Exor”.

The current chief economist of the World Bank, Indermeet Gill, is also of Indian origin. Ajay Banga has more than 30 years of experience. He has been a board member of Craft Foods, Dow Ink and the American Red Cross. He studied economics at St Stephens College, New Delhi.

According to CNBS, Ajay Banga's net worth was $206 million (Rs 17 billion) in 2021. Ajay Banga owns Mastercard stocks worth $113,123,489. In the last 13 years, stocks worth lakhs of dollars were sold by Ajay Banga.

If reports are to be believed, he was drawing a salary of $23,250,000 (Rs 1.92 billion) every year at Mastercard, which suggests that he was earning Rs 5.2 million per day.

WATCH |&nbsp;PM Modi calls for World Bank reforms at G20 finance meet

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Ajay Banga is Lieutenant General Harbhajan Banga's son. His father was in the Indian army and his family is from Jalandhar, Punjab.

He completed his schooling at Hyderabad Public School and later did his masters from IIM Ahmedabad. In 1981, he started his career with Nestle, where he worked for 13 years.

Ajay Banga later got associated with PepsiCo. He was conferred Padma Shri, the third highest civilian honour in India.

(With inputs from agencies)

You can&nbsp;now write for wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Ajay Banga, who has been nominated as the head of the World Bank, was working as Mastercard's chief operating officer where he drew a whooping salary of Rs 5.2 million per day, as per reports.

Ajay Banga, who has been nominated as the head of the World Bank, was working as Mastercard's chief operating officer where he drew a whooping salary of Rs 5.2 million per day, as per reports. US President Joe Biden has nominated Ajay Banga for the post of World Bank's head. If his nomination is approved by the board of directors, he will be the first person of Indian origin to hold the prestigious position. He has also been praised by Biden for his expertise on topics like climate change. Last year, Ajay Banga retired from Mastercard. Currently, he is the equity firm General Atlantic's vice chairman. ALSO READ | EXPLAINED | Everything about Ajay Banga, Indian-American executive nominated to lead the World Bank Before joining Mastercard, Ajay Banga worked with Citigroup and Nestle in India. He is also the chairman of the Dutch investment firm “Exor”. The current chief economist of the World Bank, Indermeet Gill, is also of Indian origin. Ajay Banga has more than 30 years of experience. He has been a board member of Craft Foods, Dow Ink and the American Red Cross. He studied economics at St Stephens College, New Delhi. According to CNBS, Ajay Banga's net worth was $206 million (Rs 17 billion) in 2021. Ajay Banga owns Mastercard stocks worth $113,123,489. In the last 13 years, stocks worth lakhs of dollars were sold by Ajay Banga. If reports are to be believed, he was drawing a salary of $23,250,000 (Rs 1.92 billion) every year at Mastercard, which suggests that he was earning Rs 5.2 million per day. WATCH | PM Modi calls for World Bank reforms at G20 finance meet Ajay Banga is Lieutenant General Harbhajan Banga's son. His father was in the Indian army and his family is from Jalandhar, Punjab. He completed his schooling at Hyderabad Public School and later did his masters from IIM Ahmedabad. In 1981, he started his career with Nestle, where he worked for 13 years. Ajay Banga later got associated with PepsiCo. He was conferred Padma Shri, the third highest civilian honour in India. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Ajay Banga, who's set to be World Bank's head, used to earn over Rs 5 million per day?

Kumar Varun and Maanvi Gagroo have shocked the internet by releasing wedding pictures. The couple tied the knot in an intimate ceremony with close friends and family members.

Kumar Varun and Maanvi Gagroo have shocked the internet by releasing wedding pictures. The couple tied the knot in an intimate ceremony with close friends and family members. People from the comedy and OTT circle flooded the comment section of their Instagram posts with wishes and blessings. Mallika Dua, Dolly Singh, and Bani J have posted their congratulations to the newlyweds. On February 14, 2023, Maanvi posted a selfie with Kumar Varun captioned 'found my lobster.' However, Kumar Varun and Maanvi Gagroo have not been 'too public' about their relationship. They have kept their dating life private and surprised the entertainment world with their wedding pictures. While Maanvi Gagroo hails from the Bollywood industry, Kumar Varun is a prominent Indian comedian. Maanvi Gagroo is famous for her characters in Tripling and Four More Shots Please! Both come from different sides of the entertainment industry, but they sure make an adorable couple. Here's everything you need to know about the Indian comedian Kumar Varun who married Maanvi Gagroo on Thursday, February 23, 2023. Kumar Varun: Career Kumar Varun was born on November 19, 1985. He's a stand-up comedian, writer, and entrepreneur. Kumar Varun hails from Jehanabad in Bihar and received fame after his video went viral on YouTube. He is an engineer by profession and pursued his MBA from the Faculty of Management Studies in Delhi. Kumar Varun has a stand-up comedy video, 'MBA Life,' which is hilarious and a delight to watch. Kumar Varun and Rahul Subramanian started a YouTube channel named 'Random Chikibum.' His quizzing series 'KVizzing with the Comedians' is a big hit. People love him for his jolly and witty nature. Kumar Varun has various comedy sketches and stand-up comedy videos on YouTube. He has also appeared in several podcasts across YouTube and Spotify. Kumar Varun's net worth is around $20 million. However, the numbers are not from an official source. Kumar Varun: Personal Life Kumar Varun hangs out with his comedian friends Zakir Khan, Tanmay Bhat and Rahul Subramanian. He is also friends with YouTubers Ashish Chanchalani and Bhuvan Bam. Kumar Varun also has an ex-wife. Before marrying Maanvi, Kumar was married to Deepti Asthana, a National Geographic Photographer. However, the couple divorced a long time ago. On February 23, the 36-year-old comedian married Four More Shots fame Maanvi Gagroo in a closed ceremony. Kumar Varun and Maanvi's wedding hashtag was #KGotVi. Many celebrities congratulated the couple on their social media posts. ALSO READ | Actress Maanvi Gagroo marries comedian Kumar Varun a month after announcing engagement

Who is Kumar Varun? Comedian who married Actress Maanvi Gagroo; Check his net worth, ex-wife, age & much more

The Indian-American tech entrepreneur Vivek Ramaswamy became the second from the community to enter the Republican Party's presidential bid after Nikki Haley. He launched his 2024 presidential campaign with a promise to put merit back and end dependence on China.

The Indian-American tech entrepreneur Vivek Ramaswamy became the second from the community to enter the Republican Party's presidential bid after Nikki Haley. He launched his 2024 presidential campaign with a promise to put merit back and end dependence on China. Vivek Ramaswamy announced his bid live on Fox News. According to him, 'woke-ism' is a national threat. Vivek Ramaswamy, an Indian American entrepreneur and founder of Roivant Sciences (2014), guaranteed to revive the ideals of the United States. He has also led the most massive biotech IPOs of 2015 and 2016. Furthermore, he launched Strive Asset Management in 2022. Vivek Ramaswamy believes the rise of China is an external threat to the United States. According to him, foreign policy is all about prioritisation. In his presidential bid, Ramaswamy said, "This isn't just a political campaign. It's a cultural movement." The 37-year-old has written three books, including Woke, Inc.: Inside Corporate America's Social Justice Scam and Nation of Victims. Let's glimpse the life of Vivek Ramaswamy, the second Indian-origin person to enter the Republican Party's presidential bid for 2024. Vivek Ramaswamy: Entrepreneurial Career Born and raised in Cincinnati, Ohio, Vivek Ramaswamy belongs to a humble background. His parents immigrated to the United States from Kerala, India. His father worked at the General Electric Plant in Evendale, Ohio. His mother was a geriatric psychiatrist in Cincinnati. Ramaswamy argues that American capitalism is a way out for discriminated Indian citizens to grab better economic opportunities in the US. Ramaswamy pursued his high school studies at St. Xavier High School, Cincinnati. He graduated from Harvard College and went to Yale Law School. He started his entrepreneurial journey in 2007 with Travis May and co-founded the Campus Venture Network. He also worked at QVT Financial from 2010-2013. Ramaswamy founded the pharmaceutical company Roivant Sciences in 2014. He served as the CEO of the company until 2021. Forbes magazine also featured Vivek Ramaswamy in 2015 for his contribution to the development of medical sciences. Currently, Vivek Ramaswamy is the executive chairman and co-founder of Strive Asset Management. In 2021, Ramaswamy became one of the Board of Trustees of St. Xavier High School. Vivek Ramaswamy: Political Career In 2022, Ramaswamy considered a candidacy in the United States election in Ohio. A self-described conservative, Ramaswamy, declared his bid for Presidential Elections in 2024 on Fox News. He has also launched his website for the election campaign. Vivek Ramaswamy: Personal life Ramaswamy's wife, Apoorva Tewari is an assistant professor and surgeon in Ohio. Furthermore, Ramaswamy's net worth is $500 million, according to celebritynetworth.com. WATCH WION LIVE HERE

Who is Vivek Ramaswamy? All about the Indian-American entrepreneur in the 2024 US presidential bid

WPL 2023 Auction: On Monday (February 13), it was a historic day for women's cricket. The inaugural Women's Premier League (WPL)'s auction took place in Mumbai and saw many big players going under the hammer. The likes of Smriti Mandhana, Ellyse Perry, Harmanpreet Kaur, Nat Sciver, etc. made heads turn and were bought for big amounts by the newly-formed five franchises.&nbsp;

Talking about the Australian all-rounder Perry -- arguably the greatest-ever women's cricketer -- had a base price of INR 50 lakhs and got a whopping deal in return. Perry, with 752, 3,386, and 1,515 runs and 37, 161 and120 scalps in Tests, ODIs, and T20Is, respectively, is won as many as four T20 World Cups and two ODI World Cups for the Women in Yellow. Her addition to the star-studded Smriti-starrer&nbsp;RCB squad will surely help Bengaluru start as one of the favourites for the inaugural WPL. Before she mesmerises fans with her all-round skills in WPL, here's a look at her net worth and salary:

Ellyse Perry&nbsp;NET WORTH AND SALARY

Reportedly, Perry’s net worth is believed to be&nbsp;around $10 million (INR 80 crores) as of 2023. Her overall annual income in the ongoing calendar year is learned to be $1 million (INR 7 crores+). Her&nbsp;annual salary from Cricket Australia is a staggering $200,000 and $100,000 from her Sydney Sixers WBBL contract. In addition, her salary from The Hundred in 2022&nbsp;stood at a whopping £31,000. Perry also&nbsp;charges INR 50 lakh – 1 crore for brand endorsements.

Perry is extremely popular on social media platforms. She has 1 million Instagram followers – enabling her to draw lucrative brand endorsement deals -- and has 81.6K followers on Twitter. Over the years, the 32-year-old has endorsed some&nbsp;big&nbsp;brands such as Adidas, CommonWealth Bank, Weet-Bix, Priceline.

Overall, Perry is a big name in world cricket with a net worth of around INR 80 crores ($10 million) and&nbsp;an estimated salary of above INR 8 crores ($1 million).

Also Read:&nbsp;<a href="https://www.wionews.com/sports/watch-team-india-players-rejoice-as-smriti-mandhana-becomes-first-ever-to-be-sold-in-wpl-auction-561527">WATCH: Team India players rejoice as Smriti Mandhana becomes first-ever to be sold in WPL Auction</a>

Will Perry will RCB in the inaugural WPL?

After attaining the services of both Perry and Smriti (for INR 3.8 crores), RCB director of cricket Mike Hesson hinted at who will lead the franchise. "Everyone knows Mandhana and Perry, we were pretty committed to the couple of people we wanted to get. we're very happy to get such quality players. it's a dream result for us to get Mandhana, Perry and Devine. Smriti has got plenty of captaincy experience and is familiar with the Indian conditions so highly likely," RCB's director of cricket said while speaking to the press.

WPL 2023 Auction: On Monday (February 13), it was a historic day for women's cricket. The inaugural Women's Premier League (WPL)'s auction took place in Mumbai and saw many big players going under the hammer.

WPL 2023 Auction: On Monday (February 13), it was a historic day for women's cricket. The inaugural Women's Premier League (WPL)'s auction took place in Mumbai and saw many big players going under the hammer. The likes of Smriti Mandhana, Ellyse Perry, Harmanpreet Kaur, Nat Sciver, etc. made heads turn and were bought for big amounts by the newly-formed five franchises. Talking about the Australian all-rounder Perry -- arguably the greatest-ever women's cricketer -- had a base price of INR 50 lakhs and got a whopping deal in return. Perry, with 752, 3,386, and 1,515 runs and 37, 161 and120 scalps in Tests, ODIs, and T20Is, respectively, is won as many as four T20 World Cups and two ODI World Cups for the Women in Yellow. Her addition to the star-studded Smriti-starrer RCB squad will surely help Bengaluru start as one of the favourites for the inaugural WPL. Before she mesmerises fans with her all-round skills in WPL, here's a look at her net worth and salary: Ellyse Perry NET WORTH AND SALARY Reportedly, Perry’s net worth is believed to be around $10 million (INR 80 crores) as of 2023. Her overall annual income in the ongoing calendar year is learned to be $1 million (INR 7 crores+). Her annual salary from Cricket Australia is a staggering $200,000 and $100,000 from her Sydney Sixers WBBL contract. In addition, her salary from The Hundred in 2022 stood at a whopping £31,000. Perry also charges INR 50 lakh – 1 crore for brand endorsements. Perry is extremely popular on social media platforms. She has 1 million Instagram followers – enabling her to draw lucrative brand endorsement deals -- and has 81.6K followers on Twitter. Over the years, the 32-year-old has endorsed some big brands such as Adidas, CommonWealth Bank, Weet-Bix, Priceline. Overall, Perry is a big name in world cricket with a net worth of around INR 80 crores ($10 million) and an estimated salary of above INR 8 crores ($1 million). Also Read: WATCH: Team India players rejoice as Smriti Mandhana becomes first-ever to be sold in WPL Auction Will Perry will RCB in the inaugural WPL? After attaining the services of both Perry and Smriti (for INR 3.8 crores), RCB director of cricket Mike Hesson hinted at who will lead the franchise. "Everyone knows Mandhana and Perry, we were pretty committed to the couple of people we wanted to get. we're very happy to get such quality players. it's a dream result for us to get Mandhana, Perry and Devine. Smriti has got plenty of captaincy experience and is familiar with the Indian conditions so highly likely," RCB's director of cricket said while speaking to the press.

WPL 2023 Auction: Ellyse Perry Sold to RCB for INR 1.7 crore! Check her net-worth, salary and more!

Charles Kimbrough, best known for his work on Murphy Brown, passed away at 86. According to Charles Kimbrough's family, he died of natural causes on January 11, 2023, at Southern California Hospital in Culver City. Kimbrough received an Emmy nomination for outstanding supporting actor in a comedy series in 1990 for his portrayal of Jim Dail. Charles Kimbrough played Jim Dail as a straight-faced anchorman. He gained Kimbrough a lot of fame and love during the 90s. Charles Kimbrough starred in 247 original episodes of Murphy Brown that aired for a decade (from 1988 to 1998). In the 2018 reboot, the producers recast him for Jim Dail. Murphy Brown's creator, Diane English, said, "Charles Kimbrough wrote a whole biography of his character before he started to play him." Let's look at the life of Charles Kimbrough, the actor from Murphy Brown, who died at 86. Here we have also mentioned the cause of his death, his career, and his net worth.

<h2>Charles Kimbrough aka&nbsp;Jim from Murphy Brown?</h2>

In 2012, Charles Kimbrough said in an interview with The Wall Street Journal, "Unfortunately, I'm really good at playing jackasses of one kind or another. I've always been slightly self-conscious as an actor. I guess that sometimes reads as pomposity."

Charles Kimbrough gave his voice to the puritanical gargoyle Victor in Disney's animated The Hunchback of Notre Dame films. He also gave his voice for the video games of the movie.&nbsp;

Charles Kimbrough was a Broadway Veteran before he starred in movies and sitcoms. He majored in music and theatre at Indian University. Later, he pursued his Master's degree from the Yale School of Drama. After that, Kimbrough took over the stage.&nbsp;

During his career, Charles Kimbrough has received several awards. In 1971, he received a Tony Award nomination for best-featured actor in a musical for his portrayal of Harry in the original production of Stephen Sondheim's Company. Kimbrough also appeared in Sondheim's Pulitzer Prize-winning play Sunday with George, which premiered in 1984.

Charles Kimbrough appeared in the original off-Broadway production of Sylvia in 1995, opposite Sarah Jessica Parker. According to THR, his most recent stage appearance was with Jim Parson in a 2012 revival of Harvey.

<h2>Charles Kimbrough: Cause of death</h2>

Charles Kimbrough's family said that the Murphy Brown actor died due to natural causes. He took his last breath on January 11, 2023, in California.&nbsp;

<h2>Charles Kimbrough: Net Worth</h2>

Charles Kimbrough is a well-known figure who made a significant contribution to his field. According to celebnetworths.com, he has a net worth of around $2 million. This figure reflects his dedication, talent, and professional success.

<h2>Charles Kimbrough: Wife &amp; Family</h2>

Charles Kimbrough's wife, actress Beth Howland, who played diner server Vera on the CBS sitcom "Alice" in the 1970s and 1980s, died in 2016. They married in 2002, after his divorce from his first wife, Mary Jane (Wilson) Kimbrough, who died in 2007. Kimbrough has a son John, a granddaughter Cody, a sister Linda, a nephew Colin and a stepdaughter Holly.

ALSO READ |&nbsp;<a href="www.wionews.com/entertainment/who-was-waffler69-a-food-tiktoker-who-died-at-33-know-the-cause-of-his-death-552203">Who was Waffler69? A food TikToker who died at 33, know the cause of his death</a>

Charles Kimbrough, best known for his work on Murphy Brown, passed away at 86. According to Charles Kimbrough's family, he died of natural causes on January 11, 2023, at Southern California Hospital in Culver City.

Charles Kimbrough, best known for his work on Murphy Brown, passed away at 86. According to Charles Kimbrough's family, he died of natural causes on January 11, 2023, at Southern California Hospital in Culver City. Kimbrough received an Emmy nomination for outstanding supporting actor in a comedy series in 1990 for his portrayal of Jim Dail. Charles Kimbrough played Jim Dail as a straight-faced anchorman. He gained Kimbrough a lot of fame and love during the 90s. Charles Kimbrough starred in 247 original episodes of Murphy Brown that aired for a decade (from 1988 to 1998). In the 2018 reboot, the producers recast him for Jim Dail. Murphy Brown's creator, Diane English, said, "Charles Kimbrough wrote a whole biography of his character before he started to play him." Let's look at the life of Charles Kimbrough, the actor from Murphy Brown, who died at 86. Here we have also mentioned the cause of his death, his career, and his net worth. Charles Kimbrough aka Jim from Murphy Brown? In 2012, Charles Kimbrough said in an interview with The Wall Street Journal, "Unfortunately, I'm really good at playing jackasses of one kind or another. I've always been slightly self-conscious as an actor. I guess that sometimes reads as pomposity." Charles Kimbrough gave his voice to the puritanical gargoyle Victor in Disney's animated The Hunchback of Notre Dame films. He also gave his voice for the video games of the movie. Charles Kimbrough was a Broadway Veteran before he starred in movies and sitcoms. He majored in music and theatre at Indian University. Later, he pursued his Master's degree from the Yale School of Drama. After that, Kimbrough took over the stage. During his career, Charles Kimbrough has received several awards. In 1971, he received a Tony Award nomination for best-featured actor in a musical for his portrayal of Harry in the original production of Stephen Sondheim's Company. Kimbrough also appeared in Sondheim's Pulitzer Prize-winning play Sunday with George, which premiered in 1984. Charles Kimbrough appeared in the original off-Broadway production of Sylvia in 1995, opposite Sarah Jessica Parker. According to THR, his most recent stage appearance was with Jim Parson in a 2012 revival of Harvey. Charles Kimbrough: Cause of death Charles Kimbrough's family said that the Murphy Brown actor died due to natural causes. He took his last breath on January 11, 2023, in California. Charles Kimbrough: Net Worth Charles Kimbrough is a well-known figure who made a significant contribution to his field. According to celebnetworths.com, he has a net worth of around $2 million. This figure reflects his dedication, talent, and professional success. Charles Kimbrough: Wife & Family Charles Kimbrough's wife, actress Beth Howland, who played diner server Vera on the CBS sitcom "Alice" in the 1970s and 1980s, died in 2016. They married in 2002, after his divorce from his first wife, Mary Jane (Wilson) Kimbrough, who died in 2007. Kimbrough has a son John, a granddaughter Cody, a sister Linda, a nephew Colin and a stepdaughter Holly. ALSO READ | Who was Waffler69? A food TikToker who died at 33, know the cause of his death

Who was Charles Kimbrough? Actor known for Murphy Brown dies at 86: Check career, cause of death & net worth

From salary to endorsements: Mind-boggling net worth of Virat Kohli

Telecom operator Idea Cellular continued to bleed in the sixth straight quarter as its consolidated loss widened to Rs 930.6 crore in the three-month period ended March 31, mainly on account of continued hyper competition and regulatory headwinds.

The company had posted a loss of Rs 325.6 crore in the same period previous fiscal.

Idea had reported first ever consolidated loss of Rs 383.87 crore in the October-December 2016 period.

The operating revenue dropped 24.47 per cent to Rs 6,137.3 crore in the March quarter of FY18.

The performance of the company, however, improved on sequential quarter basis. Idea registered a loss of Rs 1,285.6 crore in October-December 2017.

The loss for the full fiscal swelled to Rs 4,139.9 crore from Rs 404 crore in 2016-17. Revenue from operations came in at Rs 28,278.9 crore in 2017-18 from Rs 36,676.8 crore in the previous fiscal.

The company blamed hyper competition and high regulatory headwinds for aggravating the industry's financial stress.

"The Trai led regulation changes including reduction of domestic Mobile Termination Charge from 14 paisa to 6 paisa per minute and International mobile termination' settlement charges from 53 paisa to 30 paisa per minute further aggravated the financial stress for the existing industry operators," Idea Cellular said in a post-earnings statement. Despite increase in voice and data traffic on its network, Idea recorded 26 per cent dip in average revenue per user to Rs 105 in the reported quarter from Rs 142 a year ago.

Idea registered rise in voice usage per subscriber to 577 minutes, broadband data usage per subscriber to 7 GB from 1.4 GB on year-on-year basis. The company saw record wireless broadband data subscriber addition of 15.1 million in 2017-18.

The net debt of the company as on March 31, 2018 stood at Rs 52,330 crore. The company expects the debt to reduce significantly with monetisation of its stake in Indus Towers and completion of sale of its standalone mobile towers to America Tower Corporations.

Giving an update on its merger with Vodafone, Idea Cellular said the process is in the final stages and is expected to be completed by June 2018.

"The merger of Idea and Vodafone India is in the final leg of regulatory approvals and is expected to complete in H1CY18," it said.

Established operators like Bharti Airtel, Vodafone and Idea Cellular are in the midst of a bruising tariff war following the entry of Reliance Jio backed by India's richest businessman Mukesh Ambani.

Reliance Jio's free voice and dirt-cheap data offering have dented the financial metrics of incumbent operators, deepening the impact of regulatory decisions like cut in termination charges.

The company had posted a loss of Rs 325.6 crore in the same period previous fiscal

Telecom operator Idea Cellular continued to bleed in the sixth straight quarter as its consolidated loss widened to Rs 930.6 crore in the three-month period ended March 31, mainly on account of continued hyper competition and regulatory headwinds. The company had posted a loss of Rs 325.6 crore in the same period previous fiscal. Idea had reported first ever consolidated loss of Rs 383.87 crore in the October-December 2016 period. The operating revenue dropped 24.47 per cent to Rs 6,137.3 crore in the March quarter of FY18. The performance of the company, however, improved on sequential quarter basis. Idea registered a loss of Rs 1,285.6 crore in October-December 2017. The loss for the full fiscal swelled to Rs 4,139.9 crore from Rs 404 crore in 2016-17. Revenue from operations came in at Rs 28,278.9 crore in 2017-18 from Rs 36,676.8 crore in the previous fiscal. The company blamed hyper competition and high regulatory headwinds for aggravating the industry's financial stress. "The Trai led regulation changes including reduction of domestic Mobile Termination Charge from 14 paisa to 6 paisa per minute and International mobile termination' settlement charges from 53 paisa to 30 paisa per minute further aggravated the financial stress for the existing industry operators," Idea Cellular said in a post-earnings statement. Despite increase in voice and data traffic on its network, Idea recorded 26 per cent dip in average revenue per user to Rs 105 in the reported quarter from Rs 142 a year ago. Idea registered rise in voice usage per subscriber to 577 minutes, broadband data usage per subscriber to 7 GB from 1.4 GB on year-on-year basis. The company saw record wireless broadband data subscriber addition of 15.1 million in 2017-18. The net debt of the company as on March 31, 2018 stood at Rs 52,330 crore. The company expects the debt to reduce significantly with monetisation of its stake in Indus Towers and completion of sale of its standalone mobile towers to America Tower Corporations. Giving an update on its merger with Vodafone, Idea Cellular said the process is in the final stages and is expected to be completed by June 2018. "The merger of Idea and Vodafone India is in the final leg of regulatory approvals and is expected to complete in H1CY18," it said. Established operators like Bharti Airtel, Vodafone and Idea Cellular are in the midst of a bruising tariff war following the entry of Reliance Jio backed by India's richest businessman Mukesh Ambani. Reliance Jio's free voice and dirt-cheap data offering have dented the financial metrics of incumbent operators, deepening the impact of regulatory decisions like cut in termination charges.

Idea Cellular Q4 net loss widens nearly 3-fold to Rs 930 crore

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