Vodafone Idea loss grows to Rs 11,742 cr, says survival depends on SC order

Telecom company is estimated to have AGR-related dues of more than Rs 46,000 crore, posted a pre-tax loss of Rs 11,742 crore in fourth quarter FY 2020.

Vodafone Idea has said that its ability to continue as a going concern depends on the Supreme Court giving it a favourable verdict in the adjusted gross revenue (AGR) matter.

The telecom company, which is estimated to have AGR-related dues of more than Rs 46,000 crore, posted a pre-tax loss of Rs 11,742 crore in fourth quarter FY 2020 due to one-off expenses. The result was announced late Tuesday night.

It has sought 20 years to clear the dues and said its survival depends the court verdict and successful negotiations with lenders. Vodafone Idea breached debt covenants as on March end, limiting