Outlook for Vodafone-Idea is critical, says Vodafone Group CEO

Discussing the third quarterly performance of the company, Nick Read, Vodafone Group CEO in a press note said that the outlook for Vodafone Idea Limited (VIL) is critical. “In October, the Supreme Court gave an adverse judgement in the adjusted gross revenue (AGR) case against the industry. VIL is actively seeking various forms of relief from the Indian Government,” said Nick Read. According to him, the company is trying to ensure that the rate and level of payments it makes to the Indian Government is sustainable and it can meet its other commitments as they fall due. In November, the Department of Telecommunications granted a two-year spectrum moratorium to the industry.