Despite a massive cash crunch, Vodafone Idea (Vi) paid its licence fee dues for the first quarter of 2021-22, the beleaguered telco revealed on Thursday. Without specifying the amount, Vodafone Idea said that it paid the entire outstanding dues for the quarter.
Earlier, a Times of India report had said that Vi didn't pay the entire dues for the first quarter of FY22 and the telecom company fell short of Rs 150 crore. However, talking to CNBC TV-18, Vi clarified that it has paid the payable license fee dues for the April-June period.
Nonetheless, Vi remains under the cosh as it still owes adjusted gross revenue (AGR) dues to the tune of Rs 62,180 crore to the Centre. Besides, Vi also has to pay deferred spectrum payment obligations of Rs 1,06,010 crore.
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Meanwhile, the total gross debt — including the AGR dues and deferred spectrum payment obligations — of the company was estimated at a staggering Rs 1,91,590 crore, as of June 30, 2021.
Vi released its Q1 FY22 results last week. The telco disclosed that it recorded a consolidated loss of Rs 7,319 crore in the first quarter of 2021-22 as against a loss of Rs 25,460 crore in the corresponding quarter in the preceding financial year.
ALSO READ | Paid license fee dues for Q1, says Vodafone Idea
Amid the crisis, billionaire Kumar Mangalam Birla stepped down as the chairman of Vodafone Idea Limited earlier this month. The move was viewed as Birla's attempt to distance himself from the company.
Earlier in June, Birla had also offered to hand over the Aditya Birla Group's stake in the debt-laden Vi to the government. Citing the company’s 'dire financial situation', Birla had warned that Vi's collapse is imminent if it doesn't get a bailout from the Centre.
(Edited by : Ajay Vaishnav)
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