The Department of Telecommunications (DoT) on Friday ordered Bharti Airtel and Vodafone Idea to clear their adjusted gross revenue (AGR) dues before Saturday midnight
In an ultimatum, the Department of Telecommunications has ordered firms including Bharti Airtel and Vodafone Idea to clear dues before Friday midnight.
Vodafone Idea, which is staring at statutory dues of about Rs 53,000 crore, has postponed its post-earnings conference call with analysts, which was earlier scheduled for Friday.
Shares of Vodafone Idea (VIL) on Friday tumbled nearly 19 per cent after the company reported widening of losses to Rs 6,438.8 crore in the third quarter of 2019-20. The scrip tanked 18.30 per cent to Rs 3.66 on the BSE.
Vodafone Idea on Thursday reported widening of losses to Rs 6,438.8 crore in October-December 2019 against Rs 5,004.6 crore in the year-ago period as the AGR dues-hit telco reeled under the impact of increased finance costs and higher depreciation of assets.
Reliance Jio continued its lead in average 4G download speed rankings with 20.9 megabit per second (mbps) speed, while Vodafone topped the chart in terms of 4G upload speed in January, according to telecom regulator Trai's data.
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All postpaid users who are currently using a plan from Vodafone Idea will be moved to Vodafone Red plans. Users who are currently using a plan from Vodafone Idea will be moved to Vodafone Red plans.
Vodafone-Idea network in Bengaluru is down users are facing issues. It is suspected that there are issues with optical fibre cable network in the city. Users from Indiranagar, Electronic City, Kumaraswamy layout and Shantala Nagar appear to be the worst affected as the majority of the twitter reactions seem to have come from these areas.
Vodafone Idea AGR dues as estimated by the Department of Telecom stands at a cumulative Rs 53,038 crore, including Rs 24,729 crore of SUC dues and Rs 28,309 crore in the licence fee.
Vodafone joins PayPal, Mastercard, Visa, Mercado Pago, eBay, Stripe and Booking Holdings in withdrawing from the controversial project -- and is the first company to exit after the Libra Association was formed in October last year, coindesk reported on Tuesday.
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Bharti Infratel was the top loser on the NSE. Its stock price fell nearly 10 per cent on the AGR verdict. JM Financials in a report said that it expects a governmental intervention soon to ensure that Vodafone Idea Limited (VIL) would not have to approach the NCLT next week due to payment deadline.
Debt-ridden telecom firm Vodafone Idea on Thursday said it is exploring further options, including filing of a curative petition after the Supreme Court dismissed its review plea on AGR matter.
The Supreme Court Thursday dismissed the plea of Telecom majors, including Bharti Airtel and Vodafone Idea, seeking review of certain directions of the Supreme Court on recovery of past dues amounting to Rs 1.47 lakh crore from telecom service providers.
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Reliance Jio added over 91 lakh new subscribers in October, taking its total subscriber base to 36.43 crore, according to data released by the Telecom Regulatory Authority of India (TRAI). Interestingly, this increase in the number of subscribers for Jio comes although in the same month it announced to charge calls to other operators.
Vodafone Idea's mobile consumer base declined by around 3.63 crore to 33.63 crore in November, according to a source. The telecom operator had reported an increase of 1.89 lakh mobile customers on its network in October.
While telecom operators requested for minimum price for mobile data only, the regulator has also sought public comments on fixing minimum price for phone calls by January 17 and counter comments by January 31.
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