Tag: agr

After the Supreme Court judgement which widened the definition of Adjusted Gross Revenue, Vodafone Idea has to pay an approximate amount of Rs 40,000 crores to the government. This amount includes spectrum usage charges, past license fees and interest and penalties on the due amount. This amount came as an extra burden to the telecom company which was already under a debt of Rs 1.02 crore by September end this year.  The top managers of Vodafone Idea have informed their lenders that if the government does not provide them an urgent relief on the amount of debt, they will not be able to make a timely repayment to the lenders. Apart from expecting support from the government, Vodafone Idea Managing director has said that, the telecom company is looking forward to sell their data centers and optic fiber network for raising funds.

The private sector is facing tremendous recession these days. The impact of the economic slowdown on many multinational companies is clearly visible. Reliance Communications (RCom), one of the country's leading companies, is also not untouched by this. Debt-ridden Reliance Communications (RCom) has a consolidated loss of around Rs 30,142 crore in the July-September quarter. In view of the decision on the statutory arrears by the Supreme Court, the company's losses have reached such a high level due to the provision for liabilities.

Vodafone Idea reported a loss of Rs 50,921 crore in the second quarter due to adjusted gross revenue (AGR). Earlier, the company had a loss of Rs 4,947 crore in the second quarter of last year. This is the largest quarterly loss yet in India's corporate history.