Ravinder Takkar, Vodafone Idea's MD through a video call reached out to the company’s 10,000 employees, in a bid to calm nerves after a Supreme Court order on adjusted gross revenue (AGR) left the telco facing questions about its future.
Takkar on Thursday detailed out the Supreme Court verdict which backed the government’s view to include non-core 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. Takkar has told the employees that the company is hoping for relief for the sector from the government.
Later Vodafone Idea 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. Vodafone Idea CEO also highlighted Vodafone Group CEO Nick Read’s letter to the government, clarifying his statements on the future of the Indian venture.
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