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Vodafone Idea Q3 Loss At Rs 6,438 cr, 'Going Concern' Fears Continue


14 February 2020

OMMCOM NEWS


New Delhi:  Vodafone Idea on Thursday reported a consolidated net loss of Rs 6,438.8 crore during the quarter ended December of financial year 2019-20.

During the same period of the last fiscal, the company reported a net loss of Rs 5,004.6 crore.

In a regulatory filing, the telecom major also raised concerns over its survival on the back of AGR dues.

Referring to the AGR dues, existing loans and suggestion of certain lenders for increase of interest rates, the company said: "The above factors indicate that material uncertainty exists that cast significant doubt on the company's ability to continue as a going concern and its ability to generate the cash flow that it needs to settle, or refinance its liabilities including those relating to the SC AGR judgement and guarantees as they fall due."

"The company's ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the 'Supplementary Order' before the Supreme Court and subsequent agreement with DoT for the payment in instalments after some moratorium and other reliefs."

(IANS)