Latest news with #AGR-related
Hans India
3 days ago
- Business
- Hans India
Vodafone Idea's net loss widens to Rs 7,166 crore in Q4, revenue slips
Mumbai: Vodafone Idea has reported a wider net loss of Rs 7,166.1 crore for the fourth quarter ended March 31 (Q4 FY25), compared to a loss of Rs 6,609.3 crore in the previous quarter (Q3 FY25). This rise in losses comes despite some year-on-year improvement, as the loss had stood at Rs 7,674.6 crore in the same quarter previous fiscal (Q4 FY24), according to its stock exchange filing. The telecom company also saw a decline in its revenue from operations, which dropped slightly to Rs 11,013.5 crore in Q4 from Rs 11,117.3 crore in Q3 -- a decrease of around 0.93 per cent. Total income also slipped by about 1.22 per cent quarter-on-quarter (QoQ) to Rs 11,228.3 crore. At the same time, total expenses rose to Rs 18,396.4 crore from Rs 17,973.6 crore in the previous quarter, reflecting a 2.35 per cent increase. While Vodafone Idea reported a year-on-year (YoY) revenue growth of 3.8 per cent in Q4, that was not enough to offset its rising costs and ongoing financial stress. The average revenue per user (ARPU) increased to Rs 175 in Q4 FY25 from Rs 153 in Q4 FY24, driven by tariff hikes and customer upgrades. The company's financial struggles remain deep. For the full fiscal year ended March 2025, Vodafone Idea reported a total loss of Rs 27,383.4 crore, and its net worth stood at a negative Rs 70,320.2 crore. The total outstanding debt continues to loom large. It owes Rs 2,345.1 crore to banks and has deferred spectrum and AGR-related payments of Rs 1.95 lakh crore, which will be due over the next two decades. Vodafone Idea's board has approved a fundraising plan of up to Rs 20,000 crore, subject to shareholder and regulatory approvals, in an attempt to ease the burden. The company also said it remains in dialogue with the government for possible relief on its long-standing AGR dues, even after the Supreme Court recently dismissed a plea for waiver of interest and penalties. Despite these challenges, the company said it is preparing its financials on a going-concern basis, expressing hope that with government support, successful fundraising, and operational cash flow, it can continue its business in the coming year.
&w=3840&q=100)
Business Standard
21-05-2025
- Business
- Business Standard
Tata Sons may infuse capital into Tata Tele as AGR dues cross Rs 19,000 cr
Tata Sons Ltd, the holding company of the $150 billion Tata Group, may be forced to inject fresh capital into its loss-making telecom arm, Tata Teleservices Ltd, as the unit stares at Rs 19,256 crore in adjusted gross revenue (AGR) and other dues owed to the Indian government. With a negative net worth of Rs 17,876 crore and steep accumulated losses, Tata Teleservices is in no position to meet its obligations without support. Tata Sons has issued a letter of comfort to back the payment, according to people familiar with the matter. Calling the plea of telecom operators 'misconceived', the Supreme Court on Monday dismissed the petitions moved by Vodafone Idea (Vi), Bharti Airtel, and Tata Teleservices seeking a waiver on their long-standing AGR dues. The telcos were seeking relief related to payment of interest, penalty, and interest on penalty components as part of their AGR. The SC, however, has opened the doors for any relief to be provided by the government to the telecom operators. Care Ratings, in a note in June last year, flagged the risk of AGR-related liabilities following the expiry of a four-year moratorium in March 2026 for the Tata group company. Tata Teleservices had opted into the Department of Telecommunications' telecom relief package in October 2021, which allowed deferred payment of AGR dues. The rating firm said that until June 2019, Tata Sons had infused Rs 46,595 crore in the Tata Tele Business Services (TTBS) and continued to issue a support letter to the company, indicating that it would take necessary financial actions to organise for any shortfall in liquidity during the period of 12 months from the balance sheet date. As of 31 March 2024, the company had recognised the full liability, including accrued interest, under borrowings as deferred payment obligations. The dues stood at Rs 17,830 crore — Rs 3,367 crore under Tata Teleservices Maharashtra Ltd (TTML) and Rs 14,463 crore under Tata Teleservices Ltd (TTSL) as of March last year, the rating agency said. This has increased since then to Rs 19,256 crore as on March 2025 (see chart). As per Tata Teleservices' annual report for FY25, the company made a net loss of Rs 994 crore on revenues of Rs 3,626 crore. After Tata Tele sold its wireless telephony business to Bharti Airtel, Tata Sons paid all the bank loans of the telecom company and bought back the stake of its former equity partner NTT Docomo, thus maintaining its pristine track record of paying all dues.
Hans India
20-05-2025
- Business
- Hans India
SC blow to telecom operators on AGR waiver
New Delhi: The Supreme Court on Monday dismissed petitions filed by telecom operators Bharti Airtel, Vodafone Idea (Vi) and Tata Teleservices, seeking waiver of interest and penalties in their adjusted gross revenue (AGR) dues, terming the petitions 'misconceived.' The ruling came as the government earlier rejected debt-ridden Vodafone Idea Ltd's plea for fresh relief on its AGR dues, according to reliable sources. The Department of Telecommunications (DoT), in a letter dated April 29, said the request for further concessions on AGR liabilities 'can't be considered' due to the Supreme Court's verdict announced in the case in 2020. The apex court ruling fixed a 10-year timeline for telcos to clear dues. Vodafone Idea had sought a waiver of over Rs45,000 crore in AGR-related liabilities to ensure its survival. Bharti Airtel, along with its unit Bharti Hexacom, requested a waiver of Rs34,745 crore in dues related to interest and penalties. Meanwhile, DoT pointed out that Vodafone Idea has already sought and received partial support when the government converted spectrum-related dues worth Rs36,950 crore into equity, increasing its stake in the company to 49 per cent. The government had earlier requested the court to extend the repayment window to 20 years, but the plea was turned down. Vodafone Idea has been fighting a losing court battle over the definition and calculation of AGR, which began with a 2019 ruling. Telecom companies challenged the calculations, citing arithmetic errors, but the Supreme Court rejected the claims. Vodafone Idea filed a curative petition in July 2024, which was also turned down in September 2024.
India Gazette
19-05-2025
- Business
- India Gazette
Supreme Court dismisses Vodafone Idea and Airtel petition for waiving interest on AGR dues
New Delhi [India] May 19 (ANI) Supreme Court on Monday dismisses write petition by Vodafone Idea and Airtel for exemption of interest on Adjusted Gross Revenue (AGR) dues. A bench of Justices JB Pardiwala and R Mahadevan dismissed the pleas calling the petitions 'misconceived'. Vodafone Idea had approached the Supreme Court earlier this month, seeking relief of over Rs 45,000 crore in relation to its AGR dues. The apex court has earlier as well refused to given any relief to the telecom company. The company also noted that the government had converted a portion of its dues, about Rs 39,000 crore into equity, it still owed nearly Rs 1.19 lakh crore in spectrum and AGR-related dues. Bharti Airtel and Bharti Hexacom, too moved the supreme court for waiver of interest and penalties on AGR dues amounting to Rs 34,745 crore on equity basis. Earlier the Department of Telecom has also refused to given any further relief on AGR dues, citing apex court's 2020 judgement and government support to Vodafone Idea through equity conversion. The dispute over the definition and calculation of AGR ends with the ruling of the Supreme court in 2019. In 2020, the apex court has set a time line of 10-year for telcos to clear AGR dues to the government in tranches. On requests from telcos, the DoT had earlier urged the court to extend the repayment window to 20-years which was refused by the top court. Telecom companies also challenged the method of calculation of AGR, citing arithmetic errors but the apex court dismissed those claims as well. The curative petition of Vodafone idea on the issue was also rejected by the top court in September 2024. In its latest move Vodafone Idea again moved with a petition before the apex court in April to waive off the interest on AGR dues, which was rejected on Monday by the court, calling the petition 'shocking' and deems it 'misconceived'. At the time of filing this report Vodafone Idea share were down over 9 per cent, trading at Rs 6.70. (ANI)
Business Upturn
19-05-2025
- Business
- Business Upturn
Vodafone Idea shares drop 11% after Supreme Court rejects company's plea for waiver of AGR dues
By Aman Shukla Published on May 19, 2025, 13:48 IST Vodafone Idea shares tumbled over 11% after the Supreme Court dismissed the telecom company's writ petition seeking urgent relief on its Adjusted Gross Revenue (AGR) dues, as reported by cnbctv18. The court labeled the plea as 'shocking' and 'misconceived.' Vodafone Idea had approached the apex court last week, requesting a hearing to seek relief on AGR-related dues totaling up to ₹30,000 crore, largely comprising penalties and interest. The company warned that without further government support, the entire telecom sector could be at risk of collapse. This development adds pressure on Vodafone Idea, which is already struggling with heavy debt and intense market competition. In a strategic move last year, the government converted a portion of the company's dues into equity, acquiring a 49% stake to stabilize operations. Vodafone Idea shares opened at ₹7.19 and hit a high of ₹7.21 before dipping to a low of ₹6.48 today, just above the 52-week low of ₹6.47. This sharp drop contrasts sharply with its 52-week high of ₹19.18, highlighting ongoing volatility. As of 1:47 PM, the shares were trading 8.96% lower at Rs 6.71. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
