Takkar Thursday detailed out the Supreme Court verdict which backed the government’s view to include non-core items items while computing AGR, leaving the telco facing additional statutory dues of over Rs 39,000 crore, in license fees, spectrum usage charges (SUC), penalties and interest. Including Vodafone Idea, some 15 telcos are staring at addition dues of over Rs 1.3 lakh crore.
“He (Takkar) came out of the board meeting for a brief while and told employees that the company is hoping for relief for the sector from the government,” the person said.
Later in the day, the telco posted a mammoth loss of Rs 50,921.9 crore for the fiscal second quarter, pulled down by provisions for the AGR related statutory dues payable.
The new Vodafone Idea CEO also highlighted Vodafone Group CEO Nick Read’s letter to the government, clarifying his statements on the future of Indian venture.
While Read was widely quoted as questioning the future of Vodafone Idea in the face of the additional dues and in the absence of government relief, the UK telecom major’s CEO clarified to the government that he had been misquoted, and that he meant the sector as a whole.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
20 Comments on this Story
Iyerravishankar Iyer341 days ago
Apart from relief from the GOvernment, Idea should focus fully on IMPROVING PERFORMANCE. CUSTOMER SERVICE MUST BE GIVEN TOP MOST PRIORITY. TAKING CARE OF EXISTING CUSTOMERS AND FINDING SWIFTLY NEW CUSTOMERS MUST BE THE MAIN AIM OF VODOIDEA.
CAN VODOFONE PROVE ITS STRENGTH IN THE MONTHS TO COME???
Diwakar342 days ago
Vodo Idea is one of the best operator nowadays. But they should focus to good counseling to existing customers.Thanks.
manu342 days ago
basically even an uneducated can understand that the present dues charged are AGR of non core revenue not telecom revenue. What do you mean by loot?? Government is
looting the companies money by charging AGR on non core income. India got highest spectrum and linence fee in world. Rs40 out of rs100 goes to government in recharge and in that left over they should pay AGR, licence and spectrum charges also