Thu, 01 Oct 2020

Mumbai (Maharashtra) [India], Aug 6 (ANI): Vodafone Idea on Thursday posted a crushing net loss of Rs 25,460 crore in the quarter ended June as the beleaguered telecom operator set aside Rs 19,440 crore towards dues owed to the government.

The debt-laden company had posted a loss of Rs 4,874 crore in the same period last year.

"We have recognised a charge of Rs 19,440 crore as an exceptional item towards the total estimated adjusted gross revenue (AGR) liability in addition to estimated recognised liability of Rs 46,000 crore as on March 31," it said in regulatory filings at stock exchanges.

The company reported a 5.4 per cent fall in consolidated revenue from operations to Rs 10,659 crore during Q1 FY21 compared with Rs 11,270 crore a year earlier.

The average revenue per user (ARPU) declined to Rs 114 against Rs 121 in the preceding quarter ended March 31, said the joint venture between Britain's Vodafone Group and industrialist billionaire Kumar Mangalam Birla's Idea Cellular.

Gross debt (excluding lease liabilities) as of June 30 totalled Rs 118,940 crore including deferred spectrum payment obligations due to the government of Rs 92,270 crore.

Cash and cash equivalents excluding margin deposits were Rs 3,450 crore and net debt stood at Rs 115,500 crore as compared to Rs 112,520 crore in Q4 FY20, said Vodafone Idea.

(ANI)

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