InvestorQ : Why did Vodafone Idea report such a huge loss in the Jun-20 quarter?
Khushi Patel made post

Why did Vodafone Idea report such a huge loss in the Jun-20 quarter?

Answer
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Anjana Aiyar answered.
1 month ago


Vodafone Idea reported a net loss of Rs.25,460 crore for the Jun-20 quarter on the back of huge provisioning towards statutory dues, especially AGR charges. Revenues for the quarter were lower by 6% at Rs.10,659 crore on a YOY basis. During the quarter, Vodafone Idea wrote off Rs. 19,440 crore towards AGR liabilities.

While the bottom line took a big hit on the back of the provisioning for AGR, the top line also took a hit on account of the lockdown and sustained store closures. Vodafone Idea has also been consisting losing customers to Bharti Airtel and also to Jio leading to revenue losses.