For the full financial year 2019-20, Vodafone Idea reported a net loss of over Rs.78,300 crore. The Mar-20 quarter resulted in a net loss of over Rs.11,400 crore. It may be recollected that Vodafone Idea had written off the entire AGR dues in the September quarter after the Supreme Court order rejecting any relief on AGR dues to DOT.

The SC had assessed the total liability of Vodafone at over Rs.58,000 crore while Vodafone Idea in its own assessment had pegged its liability closer to Rs.46,000 crore. Even that is a huge liability and the company has no known resources at present or in the near future to pay such a huge amount. It will ultimately boil down to the leniency of the DOT.

The stock is likely to come under further pressure after these numbers and that was already evident on July 01, when it was 5% lower. Vodafone Idea had been stuck in a financial run after the order and was almost on the verge of insolvency. Vodafone and Bharti have sought lenience and also a longer payment period for defraying the dues to the DOT for AGR.