Vodafone Q3: Vodafone-Idea, success of AGR, postpones the call of the analyst of Q3 – Latest news

Vodafone Idea, which takes into account the legal fees of around Rs 53,000 crore, has postponed its post-profit conference call with analysts, which was scheduled for Friday. "… in addition to our letter dated February 11, 2020 on the results conference call scheduled for February 14, 2020. We hereby wish to report that the conference call mentioned above has been postponed," Vodafone said. Idea in a regulatory presentation.

The presentation, late Thursday afternoon, said the new date of the call will be announced separately, but gave no reason for the postponement.

The Supreme Court on Friday ordered the main levels of telecommunications companies to explain why they should not take contempt measures against them for breach of their order to pay adjusted gross income of Rs 1.47 lakh crore to the telecommunications department.

Taking a strong note of the breach of his order, the superior court expressed his dissatisfaction with an order approved by the Telecommunications Department desk officer, maintaining the effect of his verdict on the issue of adjusted gross income (AGR).

Of the three private players operating in the Indian telecommunications market, Vodafone Idea is considered in the most vulnerable position.

It is observing quotas worth Rs 53,000 million rupees that include up to Rs 24,729 million rupees of spectrum fees and other Rs 28,309 million rupees in the license fee, and the company had previously warned about the closure if no relief was given .

Vodafone Idea in its earnings statement on Thursday had also issued warnings about "material uncertainty,quot;, casting "significant doubts,quot; about its ability to continue as a going concern.

The company's ability to continue as a functioning company depends essentially on a positive outcome of its request for modification in the Supreme Court on the AGR issue and any relief from the telecommunications department in payments, VIL said Thursday.

Last week, Vodafone executive director Nick Read said the situation in India is critical, following the ruling by the United States Supreme Court. The British telecommunications company owns a 45.39 percent stake in VIL.

VIL had suffered a staggering loss of Rs 50,922 crore in the quarter of September (the highest loss ever recorded by any Indian company), when it made provisions for statutory quotas following the order of the Supreme Court in the matter of gross income adjusted, although its losses in the quarter of December remained Rs 6,439 million rupees.

The obligations of rival Bharti Airtel totaled nearly Rs 35,586 million, including license fees and spectrum usage fees. But, Airtel had already said that the aforementioned material uncertainty about the group's ability to continue as a going concern "no longer exists,quot; after the recent fundraising in Rs of Rs 21,502.

Most of the remaining responsibility corresponds to state-owned BSNL / MTNL and some of the closed / bankrupt telecommunications companies.