Economy NewsBust: Vodafone Idea losses of Rs 73,878 crore in FY 2019-20 due to provision of AGR arrears, biggest loss of any company in the country | Vodafone Idea losses of Rs 73,878 crore in FY 2019-20 due to provision of AGR arrears, biggest loss of any company in the country

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  • The company had a loss of Rs 14,603 crore in the financial year 2018-19.
  • The company owes Rs 51,400 crore as AGR dues

Daily newspaper

Jul 01, 2020, 12:38 PM IST

Mumbai. Vodafone Idea, the country's third largest telecom company, incurred a loss of Rs 73,878 crore in the financial year 2019-20. This is the biggest ever loss of any company in the country. The deficit was Rs 14,603.9 crore during FY 2018-19. The loss to the company is due to provision of AGR arrears. The company owes AGR of Rs 51,400 crore.

Loss of Rs 11,643 crore during March quarter

Explain that the Supreme Court had ordered the company to give the roadmap for the AGR dues and pay it. 51,400 crores to be repaid as AGR. The company said that due to this liability our operations will continue, there is also doubt about this. Vodafone Idea (VIL) reported that its net loss during the March quarter stood at Rs 11,643.5 crore, compared to Rs 4,881.9 crore in the year-ago quarter.

It had a loss of Rs 6,438.8 crore in the October-December 2019 quarter. The company said that revenue from operations stood at Rs 11,754.2 crore during the March 2020 quarter. On the other hand, after this result, the company's stock was trading at Rs 10.28, down over 3 percent on the BSE.

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