Vodafone-Idea, Airtel, Jio pay AGR dues to telecom department

Vodafone-Idea, Airtel, Jio pay AGR dues to telecom department

Vodafone Idea on Tuesday paid about Rs 3,043 crore and Bharti Airtel, Reliance Jio also paid Rs 1950 crore and Rs 1053 crore respectively

AgenciesUpdated: Tuesday, March 03, 2020, 04:31 PM IST
article-image
Filed Picture

Troubled Vodafone Idea on Tuesday paid about Rs 3,043 crore to the telecom department towards deferred spectrum dues, sources said. Bharti Airtel has made the payment of Rs 1,950 crore to the telecom department towards its deferred spectrum dues, while Reliance Jio paid Rs 1,053 crore, sources said on Tuesday.

The sources said that while Bharti Airtel has made payment of Rs 1,950 crore to the Department of Telecommunications towards deferred spectrum dues, Reliance Jio has paid Rs 1,053 crore.

Deferred spectrum dues are essentially instalment payments that are made by telcos for airwaves bought in past auctions.

The move assumes significance as VIL has been under financial pressure and is confronted with AGR (Adjusted Gross Revenue) liabilities of over Rs 53,000 crore.

VIL has so far paid Rs 3,500 crore in two tranches towards its AGR liabilities.

The sources in Department of Telecommunications confirmed that the company has made the payment of around Rs 3,043 crore towards deferred spectrum liability.

This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two year's moratorium on such spectrum payment dues.

RECENT STORIES

ITR Deadline Extended: File Income Tax Returns By December 10

ITR Deadline Extended: File Income Tax Returns By December 10

Cognizant Q3 Revenue Rises 7.3 Per Cent To $5.4 Billion; Company Ups Full-Year Guidance

Cognizant Q3 Revenue Rises 7.3 Per Cent To $5.4 Billion; Company Ups Full-Year Guidance

Apar Industries’ Q2 Profit Slips 4 Per Cent QoQ To ₹251.7 Crore Despite 12 Pc Revenue Jump

Apar Industries’ Q2 Profit Slips 4 Per Cent QoQ To ₹251.7 Crore Despite 12 Pc Revenue Jump

CG Power & Industrial Solutions Q2 Net Profit Jumps 30% To ₹284 cr

CG Power & Industrial Solutions Q2 Net Profit Jumps 30% To ₹284 cr

DCM Shriram Q2 Net Profit Surges Over Two-Fold To ₹159 Crore On Strong Chemical And Vinyl Growth

DCM Shriram Q2 Net Profit Surges Over Two-Fold To ₹159 Crore On Strong Chemical And Vinyl Growth