Vodafone Idea reduces loss to Rs 7,176 crore in July-Sept quarter
Vodafone Idea has reduced its losses to Rs 7,176 crore in the July-September quarter of the current financial year from Rs 8,738 crore in the same quarter last year.
Telecom major Vodafone Idea on Saturday said it has paid an additional sum of Rs 1,000 crore to the Department of Telecom towards the Adjusted Gross Revenue dues, taking its total payment to an aggregate Rs 7,854 crore.
The company had earlier deposited Rs. 6,854 crores in three tranches, the telco said in a BSE filing.
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On June 18 the Supreme Court had passed an order saying, “we have requested the telecom operators to file audited Balance Sheets, for the last 10 years including for the Calender year ending 31.3.2020 as well as the Income Tax Returns and the particulars of AGR deposited during the last 10 years and we have also requested to make payments of reasonable amount also to show their bonafides, before the next date of hearing.”
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In line with the same order, Vodafone Idea on Friday i.e. July 17, “paid a further sum of Rs 1,000 crore to the DoT (Department of Telecom) towards the AGR dues.”
Vodafone Idea was facing a staggering Rs 58,000 crore demand in overall statutory dues, after the apex court, last year ordered the non-telecom revenues to be included in calculating statutory liabilities.
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