AGR impact: Vodafone Idea posts India’s largest quarterly loss at Rs 50,921 crore

Vodafone Idea posted a mammoth loss of ₹50,921.9 crore in the second quarter, pulled down by provisions for statutory dues payable after a ruling by India’s top court on adjusted gross revenue.

The drag on the telco’s earnings came from spectrum usage charges and licence fees due to be paid within three months of the Supreme Court’s October 24 order. The court decided that AGR includes revenue from a telco’s noncore activities, broadening the base on which the statutory dues are calculated.

“During the quarter we recognised a charge of ₹25,680 crore as a part of exceptional item after adjusting the available provision and potential payments,” the company said on Thursday.