Telecom company Vodafone Idea has sought waiver of penalty and interest of more than Rs 30,000 crore related to Adjusted Gross Revenue (AGR) dues. According to a CNBC report, the company has filed a new petition in the Supreme Court on May 19 and has requested an immediate hearing in the matter. Vodafone has claimed that the government has a 49% stake in the company. Due to the constraints of the AGR decision, the government is unable to provide relief, but it should work as a partner and help save the company. Vodafone Idea said in its petition that it is difficult for the government to provide further relief after the AGR decision. Vodafone said the company has more than 59 lakh small shareholders. The help can have a big impact on the financial condition of the company. After the news, the company’s stock closed at Rs 7.22 with a gain of about 4%. Government increased stake from 22.6% to about 49% Earlier, Vodafone Idea (VI) had announced on March 30 that the government would convert the company’s spectrum auction dues of Rs 36,950 crore into equity shares. That is, the government will acquire a stake of the value of whatever is due on the company. After this conversion, the government’s stake in the telecom company increased from 22.6% to about 49%. However, the promoters will retain the operational control of the company. Vodafone Idea had said in a press statement that the Ministry of Communication had issued an order on March 29, 2025, approving the conversion due to the Telecom Reform Package of September 2021. The company received this order on March 30. Vodafone Idea’s stock fell 45% in a year In the last one month, the company’s stock has fallen by about 1.37%, 0.41% in six months and 45% in a year. The market cap of the company is Rs 78.22 thousand crores. On March 22, Vodafone-Idea had sought help from the government. Vodafone-Idea, which is facing financial difficulties, is facing a lot of difficulties in paying the Adjusted Gross Revenue (AGR) and spectrum dues. Due to this, on March 22, the company had requested the government for additional financial support. According to media reports, the company had sent a letter to Telecom Secretary Neeraj Mittal on March 11 regarding this. The company had requested the government to convert a large part of its outstanding dues into equity. The company had sought assistance under the 2021 Telecom Relief Package. According to the report, Vodafone-Idea was seeking relief for AGR and spectrum dues of Rs 36,950 crore. This also included an immediate payment of Rs 13,089 crore in the coming weeks. The company had said that it did not have the capacity to meet these payments. Vodafone Idea had sought assistance under the 2021 telecom relief package. In September 2024, the Supreme Court rejected the company’s petition Vodafone Idea had filed a curative petition in the Supreme Court in July 2024 last year challenging the calculation of AGR dues. In which non-core revenue was also included and the company was against it. However, in September 2024, the Supreme Court rejected the telecom operator’s petition. Vodafone-Idea suffered a loss of ? 6,609 crore in the third quarter Vodafone-Idea has suffered a loss (consolidated net loss) of Rs 6,609 crore in the third quarter of FY 2024-25. The company had suffered a loss of Rs 6,986 crore in the same quarter a year ago. The company’s loss has reduced by 5.40% on an annual basis. Vodafone-Idea’s ARPU stood at Rs 173 During the October-December quarter, Vodafone-Idea’s ‘Average Revenue Per User’ (ARPU) grew by 4.7% to Rs 173. It was Rs 166 in the previous quarter i.e. July-September. This change has happened due to tariff hike and users buying expensive packs.
