Vodafone Idea calls investor meet on Monday after AGR ruling by Supreme Court
Mumbai: Financially troubled telecom operator Vodafone Idea (Vi) has scheduled an unexpected meeting with investors and analysts on September 23. In a stock exchange filing, Vi stated that the 30-minute call will focus on "recent events."
The discussion will have CEO Akshaya Moondra and CFO Murthy GVAS, along with other senior executives.
This announcement follows the Supreme Court's dismissal of petitions from several telecom companies, including Vodafone Idea and Bharti Airtel, regarding the recalculation of Adjusted Gross Revenue (AGR) dues.
The court allowed the Department of Telecommunications (DoT) to include non-telecom revenue in the AGR calculations, a decision that has dealt a significant blow to Vi, which had hoped for relief in these payments.
Vi is currently in the midst of a debt funding process, seeking up to Rs 35,000 crore in loans from various banks.
The company reported a total debt of Rs 2.09 trillion at the end of Q1 FY25 (April–June), including deferred spectrum payment obligations of Rs 1.39 trillion and an AGR liability of Rs 70,320 crore owed to the government.
Despite these challenges, Vi's stock rose by 1.35 percent on Friday, closing at Rs 10.52 per share, following a sharp 19.7 percent drop the previous day.
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