Vodafone India makes 'requisite payment' of Rs 1,701 crore to DoT This comes in after the promoter group entity of Vodafone Idea Ltd (VIL) had assured assistance of Rs 2,000 crore to the company, if it requires financial support to meet the impending payment obligations, stated a regulatory filing made by the telecom operator on August 14. MONEYCONTROL NEWS SEPTEMBER 17, 2023 / 02:42 PM IST

 

                   Furthermore, VIL had cleared about 10 percent of its dues for April-June quarter

Vodafone India Limited made a "requisite payment" of Rs 1,701 crore to the telecom department towards the 2022 spectrum auction instalment on September 17.

"The payment is in accordance with the terms of Notice Inviting Applications," the company said.

The promoter group entity of Vodafone Idea Ltd (VIL) had assured an assistance of Rs 2,000 crore to the company in case it needed financial support to meet the impending payment obligations, a regulatory filing from the telecom operator stated on August 14.

VIL had cleared about 10 percent of its dues for the April-June quarter  to the Department of Telecommunications (DoT) in early September. The telco has also promised to clear the remainder by the end of this month, the Times of India reported, quoting sources.

Vodafone Idea owes DoT close to Rs 700 crore towards spectrum usage charges, licence fees, and other statutory dues. To compound the situation, the telecom company is suffering financial instability due to heavy losses and running debt of Rs 2.1 lakh crore, the report added. It has shown improvement in key metrics such as increased number of 4G users and better average revenue per user (ARPU), which measures profitability.