AGR impact: Voda Idea posts biggest quarterly loss in India Inc history

Vodafone Idea reported a massive pre-tax loss of Rs 36,959 crore for the July-September quarter after it provided for payments related to adjusted gross revenues, or AGR. The company took a hit of Rs 30,774 crore (including AGR) for the quarter. This led to a loss of Rs 50,922 crore at the net level, the highest-ever for an Indian company. The company had posted a loss of Rs 4,974 crore in the year-ago quarter while the loss in the June quarter was Rs 4,874 crore.

Giving a break-up of the liabilities on account of AGR, the company provisioned for Rs 27,610 crore on account of licence fees and Rs 16,540 crore, including interest and penalties on interest, related to spectrum usage charges (SUC) up to September 30, 2019.