Vodafone Idea net loss plummets to Rs 50,921.9 cr

Amidst controversies of an uncertain future, Vodafone Idea Ltd (VIL) has posted its biggest quarterly consolidated net loss of Rs 50,921.9 crore for the second quarter ended September 30, impacted mainly by Adjusted Gross Revenues (AGR) provisions. In the comparable year-ago quarter, the country’s second-largest operator by subscribers had posted a net loss of Rs 4,973.8 crore.

Vodafone Idea has provisioned Rs 25,677.9 crore for AGR payments, which is estimated to be about Rs 44,150 crore. This includes an estimated license fee of Rs 27,610 crore and Spectrum Usage Charges (SUC) of Rs 16,540 crore (with penalty and interest) for up to September 30, it said in a regulatory filing.