Payment of license fee dues for the first quarter of 2021-22: Vodafone Idea
Vodafone Idea Limited (VIL) on Thursday said it has paid the license fee for the first quarter of 2021-22.
The remarks come amid a report that the troubled telco – which is struggling to survive – fell short by Rs 150 crore on payment of license fee for the June quarter.
A VIL spokesperson said in response to an email to PTI, “VIL has paid its license fee for the first quarter of 2021-22.”
No further details were given in the statement.
VIL is in the grip of an existential crisis, and the debt-ridden telco’s Q1 earnings and operating metrics for the June quarter announced on Saturday had disappointed analysts.
According to the Q1 report card issued by the telco, VIL’s total gross debt (excluding lease liabilities and including interest but not outstanding) as on June 30, 2021 was Rs 1,91,590 crore, which included deferred spectrum payment obligations. 1,06,010 crore and the Adjusted Gross Revenue (AGR) liability is Rs 62,180 crore which is payable to the government.
VIL posted a lower consolidated loss of Rs 7,319 crore for the first quarter ended June 30, 2021, from Rs 25,460 crore a year ago. Vodafone Idea’s consolidated revenue from operations declined nearly 14 per cent to Rs 9,152.3 crore during the reported quarter, from Rs 10,659.3 crore in the same quarter of 2020-21.
Billionaire Kumar Mangalam Birla recently stepped down as chairman of Vodafone Idea Ltd, within two months of the government’s offer to hand over Aditya Birla Group’s stake in the telco to avert a crisis for the firm.
Last week, Vodafone Idea filed a review petition in the Supreme Court after the apex court dismissed its plea for rectification of alleged errors in calculation of arrears related to Adjusted Gross Revenue (AGR).
In its review petition, VIL has said that it is a “surrogate of justice” that the company has been barred from questioning the arithmetical errors/omissions for which it has to pay around Rs 25,000 crore (principal plus interest, penalty and interest). 5,932 crore) will be spent. on punishment).
Vodafone Idea’s plea said that its pleas have been dismissed by the order under review, adding that the denial could result in the company going down and leaving its nearly 273 million customers “high and dry”. Is.
The company said in the petition that other repercussions include loss of investment in the business and impact on the livelihoods of employees, as well as distributors, retailers and store employees.
During an earnings call earlier this week, Vodafone Idea CEO Ravinder Takkar said that the company expects the government to offer necessary assistance to address structural issues in the sector and emphasized that the floor Pricing, even in an interim way, can help.
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