Vi still in talks with govt on AGR dues after Supreme court's dismissal of plea
'What the government will do I can't comment on behalf of the government post judgment. We are continuing to engagement with the government to find the solution with the AGR dues,' said Moondra.
"Our view is that the government can provide relief," Moondra reiterated. "In some ways, if you look at the 2021 reforms package, the government took the initiative, and I see no reason why the government should be constrained in any way from offering the relief it decides to do so.
However, Communications Minister Jyotiraditya Scindia reportedly refused to entertain any plan to provide relief on the AGR front to telecom companies. He also mentioned that Vodafone Idea will not receive any further equity conversion from the government beyond the current 49%, and it's now the company's responsibility to manage its profit and loss and balance sheet. In its quarterly result, Vi reported a consolidated net loss of Rs 7,166.1 crore for the quarter ending March. It is marginal improvement from Rs 7,674.6 crore recorded in the same period last year.
However, losses widened compared to the previous quarter's Rs 6,609.3 crore. The company's revenue grew 3.8% year-on-year to Rs 11,013.5 crore, driven by tariff hikes and customer upgrades. The average revenue per user (ARPU) rose to Rs 175. The company also announced plans to raise another Rs. 20,000 crore through a further public offering (FPO), private placement, or other permissible modes. On the fundraising, Moondra mentioned that discussions are ongoing with banks, but banks want clarity on the AGR issue. Vi stated its intention to launch 5G services across 17 telecom circles by August.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
India needs massive investments for Net-Zero Goal by 2070; Private sector will be vital: Moody-ICRA
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel According to a joint report by Moody's Ratings & ICRA , highlights that India will require a huge investment in order to meet ambitious 2070 net-zero emissions norms particularly in the power report projects that over the next decade, these investments are projected to constitute 2 per cent of country's real GDP for the electricity value chain, encompassing power generation, storage, transmission and report also suggests that the country must manage the complex balance of energy security, affordability, and the transition to cleaner India's fast-growing economy will continue to rely on coal in the short to medium term. It adds a 32 to 35 per cent increase in coal-based generation capacity (around 70-75 GW) over the next 10 years, alongside the addition of 450 GW in renewable capacity."We expect the private sector to remain active in India's renewable energy sector, while government-owned companies will also increase their role," said Abhishek Tyagi, a Moody's Vice President and Senior Credit further added that, "Solar and wind power will dominate new generation capacity additions over the next 20-25 years, with smaller nuclear and hydropower additions."Furthermore, the report also expects a slowdown in road project execution in the near term despite a healthy FY2026 budgetary outlay of Rs 2.72 trillion for the Ministry of Roads, Transport and Highways (MoRTH)."With road awarding projected to improve only in second half of FY2026, the revenue growth of road developers is likely to remain subdued over the next 12-15 months, as it takes 6-9 months from project awarding to on-ground execution (first billing milestone)," said Ashish Modani, ICRA's Senior Vice President and Group Head, Corporate contrast, ports and data centers are emerging as key growth areas. Under the Maritime India Vision 2030, the government has committed substantial capex to expand port capacity. ICRA anticipates a 3 to 5 per cent increase in cargo volumes in FY2026, led by containerised cargo, petroleum products, and fertilisers, though global trade and tariff uncertainties pose risks.
Time of India
27 minutes ago
- Time of India
Four arrested for Rs 35-lakh robbery in old Delhi's Chandni Chowk
New Delhi: Four people were arrested in connection with the robbery of Rs 35 lakh from a textile businessman's office in north Delhi's Chandni Chowk on Monday. Around noon on June 2, businessman Vicky Jain noticed three men approaching his office via the staircase while he and his staff were opening it, but they soon left. Around 2pm, two of them returned. When one of them lifted the office shutter, two staff members managed to go out and raised an alarm. Another staff member locked the glass gate from inside, but one of the robbers fired a shot, shattering the glass, and then kicked the gate open. Both robbers entered, and threatened the staff at gunpoint and fled with Rs 35 lakh. Deputy commissioner of police (north) Raja Banthia said that while reviewing CCTV footage, two of the three suspects were seen travelling in an auto near Old Delhi Railway Station. Tracking the auto, police reached Shahdara. Further CCTV footage revealed that the suspects travelled via Loni towards Baghpat. Shekhar was the first to be arrested at his home in Baghpat's Indira Colony. "Shekhar admitted to committing the robbery along with his associates Nikhil, Sahil and Tushar, and said his share of the loot, Rs 13 lakh, was in his possession," police said. Based on his statement, Nikhil was arrested from Baraut in Uttar Pradesh, and confessed to holding Rs 6.5 lakh from the stolen amount. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Sahil was later arrested in Rohtak. Shekhar told police that he met Tushar through social media but did not know his residential address. A check of Tushar's profile showed he lived in a village near Kalanaur in Rohtak. Police found that Tushar was previously lodged in Tihar Jail alongside Shekhar's brother, Divansh. Tushar was arrested from his village, and the rest of the looted amount was recovered from him and Sahil. Police said Shekhar got to know about potential cash transaction offices in old Delhi from an acquaintance. After visiting the locations multiple times, he shared the information with his brother Divansh in Tihar Jail. Divansh introduced Shekhar to Tushar, a soon-to-be-released inmate, via social media. After Tushar's release, he and Shekhar planned the robbery with the two others. "As per the plan, the accused entered the office and committed the robbery. They fled to Baghpat, where they divided the loot. Nikhil and Shekhar then returned home while Tushar and Sahil headed to Rohtak," police said. Interrogation also revealed that Tushar was previously jailed in a robbery case in Dwarka while Sahil had an assault case registered in his village and Shekhar had a prior conviction under Arms Act.
India.com
28 minutes ago
- India.com
Made for Rs 40 crore, this movie became hit, earned Rs..., yet Salman never worked with lead actress again due to..., movie is...
Bollywood's one of the biggest Khans – Salman Khan – was once known as a hit machine. There was a time when the actor delivered back-to-back hit films. During his golden period, a movie was released which became a blockbuster. Made for Rs 40 crore, this film earned Rs 137 crore worldwide. Despite the movie being a hit, Salman never worked with the lead actress ever again. Yes, you read that right! If you are wondering which movie we are talking about, then the film in discussion is the superhit Ready. Featuring Salman Khan in the lead role, Ready was released in 2011 and was helmed by Anees Bazmee. Ready was produced by Sohail Khan, Bhushan Kumar, Krishna Kumar, Nitin Manmohan, Nasir Khan, and Rajat Rawail. Apart from Salman being the lead, the movie also starred Asin opposite him. Other than these lead actors, Ready also featured Paresh Rawal, Mahesh Manjrekar, Sharat Saxena, Manoj Joshi, Puneet Issar, Sudesh Lehri, and Akhilendra Mishra in key roles. Salman Khan Never Worked With Asin Because… This was the only collaboration between Salman Khan and Asin. The duo never worked with each other ever again. Before Ready, Salman and Asin's another film London Dreams had also surfaced online. However, the movie did not perform well at the box office. Following this, the two only worked together in Ready and never collaborated again. Coming back to Ready, the movie was a huge hit and songs like 'Humko Pyar Hua', 'Dhin Chika', 'Meri Ada Bhi' and 'Character Dhila' were superhits. Coming to Salman Khan's work front, he was last seen in Sikander which did not do well on the box office.
