Vodafone Idea on Thursday reported a consolidated net loss of Rs 6,438.8 crore during the quarter ended December of financial year 2019-20. The preceding quarter (Q2 FY20), the telco posted its highest quarterly loss of Rs 50,922 crore loss after having accounted for most of the liabilities related to adjusted gross revenue (AGR)
During the same period of the last fiscal, the company reported a net loss of Rs 5,004.6 crore.
In a regulatory filing, the telecom major also raised concerns over its survival on the back of AGR dues.
Vodafone Idea’s consolidated revenue from operations saw a slight increase from Rs 10,844 crore in the September quarter to Rs 11,089 crore in the fourth quarter. Revenue for the same quarter last year was at Rs 11,764.8 crore.
The company has stated in its financial results that it incurred exceptional expenses of Rs 52.8 crore for AGR related dues. In the previous quarter, it had made provisions of Rs 44,150 crore for the same.
Referring to the AGR dues, existing loans and suggestion of certain lenders for increase of interest rates, the company said: "The above factors indicate that material uncertainty exists that cast significant doubt on the company's ability to continue as a going concern and its ability to generate the cash flow that it needs to settle, or refinance its liabilities including those relating to the SC AGR judgement and guarantees as they fall due."
"The company's ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the 'Supplementary Order' before the Supreme Court and subsequent agreement with DoT for the payment in instalments after some moratorium and other reliefs."