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Paid license fee dues for Q1, says Vodafone Idea
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Paid license fee dues for Q1, says Vodafone Idea
Aug 19, 2021 4:22 AM

Vodafone Idea has paid the payable license fee dues for the April-June period, the private sector telecom operator told CNBC-TV18.

Vodafone Idea (Vi), which is jointly owned by the Aditya Birla Group and Britain's Vodafone Group, is struggling against a cash crunch. Once the largest telecom player in India, the company has been operating in the red due to low tariffs and increasing competition. Its total debt stood at Rs 1.91 lakh crore at the end of June.

Brokerages recently reduced their target prices on Vodafone Idea shares amid the telecom company's deteriorating financial position and uncertainty over fundraising.

Also read: What brokerages say on Vodafone Idea

The company said this week that it is in talks with bondholders to refinance Rs 6,000 crore worth of its debt that is due in the next six months.

A major burden on Vodafone Idea is the adjusted gross revenue-related dues demanded from it by the Department of Telecommunications (DoT). The total amount owed to the government, including the interest, stands at Rs 62,180 crore.

Also read: Vodafone Idea to file curative petition if review plea dismissed by Supreme Court

For the quarter ended June, the debt-ridden Vodafone Idea had reported a consolidated loss of Rs 7,319.1 crore. Its revenue from operations had dropped 14 percent on a year-on-year basis to Rs 9,152.3 crore. (Read more on Vi's Q1 earnings here)

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