Page 20 - Vodafone Idea

Vodafone Idea hits 10-month high on heavy volumes; gains 24% in six days

Last week, Care Ratings reaffirmed its rating and revised the outlook assigned to the long term bank facilities and non-convertible debentures of Vodafone Idea from 'Positive' to 'Stable'.

Vodafone Idea rises 6% in weak market; stock surges 12% in 5 days

According to reports, the debt-ridden telecom operator plans to clear about Rs 2,400 crore of dues to the government by September

Vodafone Idea plans to clear about Rs 2,400 crore dues by September

Debt-ridden telecom operator Vodafone Idea plans to clear about Rs 2,400 crore of dues to the government by September, sources privy to the development said. The company recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23, a source told PTI. "Vodafone Idea will clear dues for the June 2023 quarter and spectrum instalment with applicable interest by September, " the source said. Vodafone Idea had to pay a licence fee of around Rs 770 crore by July and Rs 1,680 crore as the first instalment for the spectrum it purchased in auctions that were held last year. While the company has sought 30 days to clear the spectrum payment, the company is also gearing up to clear the licence fee payment by September. "Due on late payment of spectrum instalment will attract 15 per cent interest rate on annual basis. The company will have to pay around Rs 1,700 crore for spectrum instalment and around Rs 710 crore for licence

Vodafone Idea expects payment liabilities to ease from Q3, says CEO Moondra

He reassured that Vodafone Idea will launch 5G services once the funding issue has been resolved

Voda Idea to pay Rs 1,680 cr auction instalment with delay of 30 days

Debt-ridden Vodafone Idea has sought 30 days more time to pay around Rs 1,680 crore for spectrum auction instalment due on Thursday, a senior company official said on Wednesday. The company has proposed to pay the amount with interest. "We have submitted a letter to DoT that we propose to pay the spectrum auction instalments of Rs 1,680 crore towards the 2022 auction, which is due on August 17, by availing the grace period of 30 days with interest, in accordance with the terms of NIA (Notice Inviting Applications)," Vodafone Idea chief financial officer Murthy GVAS said during the earnings calls. The development comes even after one of the promoters has confirmed to the company that it will provide direct or indirect financial support to the extent of Rs 2,000 crore in the event of any fund requirement for meeting impending payment obligations. The company has also acquired a 5G spectrum in mid-band (3300 megahertz) and millimetre wave in the 26 GHz band in July 2022 spectrum ...

Reliance, Vodafone, Airtel may increase their headcount by 25% in FY24

Reliance Jio's total headcount at FY23 end was 95,326; Airtel's headcount was 64,407; and Vodafone Idea's was 15,604

Vodafone Idea Q1 loss widens 7.5% to Rs 7,837 crore on high expenses

The company suffered higher expenses due to a spike in finance cost

Vodafone Idea gets Rs 2,000 cr fund support assurance from promoter group

Debt-ridden Vodafone Idea has received funding assurance of up to Rs 2,000 crore from a promoter group entity, the company said in a regulatory filing on Monday. The company has reported gross debt of Rs 2.11 lakh crore as on June 30, 2023. "The Company has received a communication from a promoter group entity confirming that in the event of any fund requirement for meeting its impending payment obligations by the Company, it shall provide direct or indirect financial support to the extent of Rs 2,000 crore," Vodafone Idea said in the filing. Vodafone Idea's consolidated net loss widened to Rs 7,840 crore in the first quarter ended June 30. The company had posted a net loss of Rs 7,295.7 crore in the same period a year ago. The consolidated revenue from operations during the reported quarter increased marginally by 2.3 per cent to Rs 10,655.5 crore from Rs 10,406.8 crore in the June 2022 quarter. VIL said it is in discussion with various network vendors for the finalisation of ou

Vodafone Idea, Adani Data Networks may not get relaxations for 5G rollout

According to rules, a telco has to commercially launch service anywhere in each of the three metros and at least in one city in each of India's 22 telecom circles at the end of the first year

Q1 Preview: Airtel ARPU may near Rs 200-mark; Voda to see muted subs churn

Bharti Airtel Q1 preview: On average, analysts expect Bharti Airtel's consolidated net profit to rise around 60 per cent year-on-year (YoY) to Rs 2,676 crore in Q1FY24

Jio gains 3 million new subscribers, Vodafone loses 2.8 mn in May: Trai

Reliance Jio continues as the market leader holding more than 50% of broadband market share and 38% of subscriber market share

Vodafone Idea likely to get extension to pay Q1 spectrum and licence fees

The govt is of the view that the troubled VI should be given adequate time to raise funds, especially now that potential investors are comfortable knowing that the govt is also taking equity in VI

Starlink a step closer to launching its satellite-based internet in India

As Starlink goes ahead with its plan, it will have rivals like Bharti Group company OneWeb, Amazon, and Reliance Jio's satcom waiting for it

Telcos dole out 7-8% salary hikes, up to 110% bonus to retain talent

The market leader, Reliance Jio has not announced the increments and bonuses so far

How do brokerages view Reliance Jio's new feature phone offering?

Brokerages estimate that the launch of 'JioBharat' phones could disrupt the 2G market, and delay the tariff hike discussions in the near-term

ZTE gets Centre's nod to help Vodafone Idea update its network: Report

ZTE and Huawei have also applied to the National Security Council Secretariat to become a 'trusted source'

Ericsson, Nokia not ready to supply 5G equipment to Vi on credit: Report

Recently, Ericsson provided the telco with 2G radios, but only after it made the entire payment

Top headlines: Go First lenders approve $55 mn infusion, Vi turnaround soon

Business Standard brings you the top headlines at this hour

Voda Idea turnaround expected soon, negotiations on to raise funds: Govt

The telecom firm is in advanced negotiations with three to four private equity funds to raise about Rs 20,000 crore

VIL needs promoters, govt to work in tandem to attract new investors

The struggling telecom service provider urgently needs the promoters and the government to work in tandem to attract new investors