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Vodafone Idea Q2: Net loss widens to Rs 50,922cr; one-time loss on SUC charge, license fee at Rs 30,774cr

The revenue was down 3.9 percent at Rs 10,844 crore. vs 11,269.9 crore in the June quarter.

November 14, 2019 / 08:24 PM IST
Vodafone Idea (Image: Reuters)

Vodafone Idea (Image: Reuters)

 
 
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Vodafone Idea net loss for the September quarter widened to Rs 50,921.9 crore from Rs 4,873.9 in the previous quarter.

This was due to a one-time loss of Rs 30,774.5 the company incurred to account for recent Supreme Court verdict on adjusted gross revenue (AGR) dues.

"Consequent to the recent judgement by Hon’ble Supreme Court, we have accounted for the estimated liability of Rs. 276.1 billion (Rs 27,610 crore) related to License Fee and Rs. 165.4 billion (Rs 16,540 crore) related to Spectrum Usage charges up to September 30, 2019, including the interest, penalty and interest thereon of Rs. 330.1 billion (Rs 33,010 crore)," the company said in the result release to the exchange.

The revenue was down 3.9 percent at Rs 10,844 crore. vs 11,269.9 crore in the June quarter.

The earnings before interest, tax, depreciation and amortisation (EBITDA) was down 9.1 percent at Rs 3,347.1 crore versus Rs 3,650 crore QoQ. The EBITDA margin was 30.9 percent compared to 32.4 percent in the previous quarter.

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Earlier in the day, Bharti Airtel posted an eight-fold jump in its loss to Rs 23,044.9 crore in Q2FY20 due to similar accounting for AGR dues.
Moneycontrol News
first published: Nov 14, 2019 08:13 pm

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