The company had a loss of Rs 595.11 crore in the same period a year ago.
A notification was issued by the Department of Telecom in this regard late tonight. The spectrum auction will be held for frequencies in four bands of 800 Mhz, 900 Mhz, 1800 Mhz, 2100 Mhz.
Sectoral regulator Trai has recommended a reserve price of Rs 3,104 crore per megahertz for CDMA spectrum, which is 15 per cent more than the rate it had proposed in February.
Telecom regulator TRAI has already given its final view on issues that were raised with respect to full MNP, a service which will allow mobile subscribers to change their operator in any part of the country while retaining their number.
The Telecom Regulatory Authority of India in September did not favour auction of CDMA spectrum and recommended that the DoT should explore using part of these airwaves for E-GSM services.
In a letter dated November 13 to TRAI, the Department of Telecom (DoT) has said that "it has been decided that 800 megahertz (CDMA) band will be put to auction in the next round of auction of spectrum", sources said.
It is now clear that the Department of Telecommunications (DoT) will ask the TRAI to recommend a reserve price for CDMA spectrum within 15 days.
TRAI slashed the combined spectrum auction reserve price in the premium 900 MHz band in the circles of Delhi, Mumbai and Kolkata by about 79 percent to Rs 650 crore per MHz against Rs 3,074.18 crore per MHz earlier.
A high-powered ministerial panel today allowed Norwegian telecom firm Telenor's Indian arm to adjust Rs 1,658 crore licence fee it had paid in 2008 against the final price it has to pay for buying spectrum.
In an interview to CNBC-TV18, GV Giri, analyst, IIFL give shis views on the CDMA spectrum price cut annnounced by an EGoM.
The Empowered Group of Ministers (EGoM) on telecom, headed by Finance Minister, P Chidambaram, will meet on November 29 in the backdrop of lukewarm response to the recently concluded 2G spectrum auction.
Today, Planning Commission deputy chairman Montek Singh Ahluwalia said that it was clear now that the spectrum was over-priced for the auction and that there was a need to have a relook at spectrum prices.
CNBC-TV18 learns that the Empowered Group of Ministers on spectrum has decided to auction one extra block of CMDA spectrum, even as it has decided that the spectrum will remain valid for 20 years.