Mumbai5 minutes ago
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Debt-ridden telecom company Vodafone Idea has paid around Rs 700 crore to the Department of Telecom (DoT). The company has made this payment as license fees and spectrum dues for April-June.
The company’s spokesperson gave this information to the media. VI said that due to lack of funds, Vodafone-Idea was not able to pay its dues in full for the last 7-8 quarters.
Following the recent fund raising, the telecom company has started making all its dues and vendor payments. The company has raised around Rs 24,000 crore through equity, including Rs 18,000 crore raised through a follow-on public offering (FPO) in April.
The company now has a debt of Rs 4,650 crore
The telecom service provider’s debt has seen improvement. At the end of the June quarter, the company had a total debt of Rs 4,650 crore. A year ago it was Rs 9,200 crore. Apart from this, the total outstanding from banks and financial institutions has almost halved in the last one year.
VI is preparing to raise Rs 25,000 crore
As of June 30, the company’s cash and bank balance is Rs 18,150 crore. VI is in talks with a consortium of banks to raise funds for its network expansion. The company is looking to raise Rs 25,000 crore as well as additional non-fund based facilities of up to Rs 10,000 crore.
Loss in the first quarter but 18% less than last year
Vodafone-Idea (VI) suffered a consolidated loss of Rs 6,432 crore in the first quarter of FY 2025. The company had suffered a loss of Rs 7,840 crore in the same quarter a year ago. VI’s loss has reduced by 17.96% on an annual basis.
In the April-June quarter, Vodafone-Idea’s consolidated operational revenue fell 1.3% year-on-year to Rs 10,508.30 crore. In the same quarter a year ago, the company’s revenue was Rs 10,655.50 crore. The amount received from selling goods and services is called revenue.
Vodafone-Idea’s ARPU stood at Rs 146
During the April-June quarter, Vodafone-Idea’s ‘average revenue per user’ (ARPU) grew by 4.5% to Rs 146. It was Rs 139 in the same quarter of the previous financial year. The company has increased the recharge prices by 25% from July 4.
