Vodafone Idea Ltd. said on Wednesday that it is confident that a solution for the adjusted gross revenue issue will be figured out, adding that it is actively engaged with the government to find one.
"The government's intent is clear that it will provide support if need arises. Moreover, it is cognisant that support will be required on this issue. The government is the biggest stakeholder in this process; therefore, we are confident that a solution will be found," Chief Executive Officer Akshaya Moondra said during the third quarter post-earnings call.
The government is committed to saving the telecom sector, and the bank guarantee waiver for past spectrum purchases is a direct indication of that, Moondra remarked.
Moondra said that the telco is in constant talks with banks and lenders for further rounds of debt funding. However, he said that even banks are looking for some clarity on the adjusted gross revenue, or AGR, issue.
In January, NDTV Profit had reported that the government is considering a proposal to relax the quantum of adjusted gross revenue, or AGR, dues owed to the exchequer by telecom companies.
This proposal, if implemented, will come as a huge relief to telecom companies, and especially to the debt-laden VIL.
VIL's consolidated net loss narrowed in the third quarter of the financial year 2024-25. The telecom firm posted a loss of Rs 6,609 crore in the October–December period in comparison to Rs 7,175.9 crore in the preceding quarter.
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