A huge Rs. 50,000 crore loss in Q2, Vodafone Idea said on Friday that the government is clear that there will be no monopoly and is in the process of filing a review petition.
In a conference call, senior management of the company led by the CEO said that Ravinder Takkar said that Vodafone Idea Limited (VIL) had not expedited payments to any bank.
"The government is clear that they want to see three private players and one public player. We are positively engaged with the government and have received constructive feedback from the government even before the Adjusted Gross Revenue (AGR) case. SC decision of AGR There is a significant financial impact on the industry, ”VIL CEO Ravinder Takkar said in the conference call.
He said that the company has given representation to the government.
Vodafone said on Thursday that unless the government gives relief to the region, it will be difficult to remain a concern.
The management of VIL said that the government wants a healthy telecom sector.
Takkar also said that if floor pricing of voice and data is done, it would be a big positive step for the industry, but it is for the government and the regulator to decide.
On the operational side, he said that higher average revenue per user (ARPU) customers continue to drain and that CapEx's share for the current fiscal year is now pushed into the next financial year. Currently, the focus is on integration and the company is on track to complete it by March 2020.
The demonetization of the Indus Tower is under consideration, while the Indus Tower merger has been delayed, he said.
While Vodafone Idea recorded a record loss of Rs. 50,921 crore for the September quarter, the highest for any Indian company in India, with Bharti Airtel adding Rs. 23,044 crore for the quarter due to Rs. Provision of 28,450 crores for AGR dues.
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| Vodafone Idea CEO |
In a conference call, senior management of the company led by the CEO said that Ravinder Takkar said that Vodafone Idea Limited (VIL) had not expedited payments to any bank.
"The government is clear that they want to see three private players and one public player. We are positively engaged with the government and have received constructive feedback from the government even before the Adjusted Gross Revenue (AGR) case. SC decision of AGR There is a significant financial impact on the industry, ”VIL CEO Ravinder Takkar said in the conference call.
He said that the company has given representation to the government.
Vodafone said on Thursday that unless the government gives relief to the region, it will be difficult to remain a concern.
The management of VIL said that the government wants a healthy telecom sector.
Takkar also said that if floor pricing of voice and data is done, it would be a big positive step for the industry, but it is for the government and the regulator to decide.
On the operational side, he said that higher average revenue per user (ARPU) customers continue to drain and that CapEx's share for the current fiscal year is now pushed into the next financial year. Currently, the focus is on integration and the company is on track to complete it by March 2020.
The demonetization of the Indus Tower is under consideration, while the Indus Tower merger has been delayed, he said.
While Vodafone Idea recorded a record loss of Rs. 50,921 crore for the September quarter, the highest for any Indian company in India, with Bharti Airtel adding Rs. 23,044 crore for the quarter due to Rs. Provision of 28,450 crores for AGR dues.
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