Vodafone Idea slips as SC defers AGR plea hearing

Vodafone Idea (VIL) tumbled 3% to Rs 8.77 after the Supreme Court postponed the hearing on the company?s plea against the government's additional AGR demand.

The matter will now be heard on October 27. The adjournment came after Solicitor General Tushar Mehta, appearing for the government, sought more time. This is the fourth time the hearing has been deferred.

VIL has challenged the Department of Telecommunications? (DoT) fresh demand of Rs 5,606 crore for the financial year 2016-17.

The company has requested the DoT to re-assess and reconcile all AGR dues up to FY 2016-17 in line with the Deduction Verification Guidelines issued on February 3, 2020.

Earlier, the government had informed the court that efforts were underway to reach a resolution with the company.

Vodafone Idea faces AGR dues of around Rs 83,400 crore, with annual obligations of nearly Rs 18,000 crore kicking in from March 2025. CEO Akshaya Moondra has repeatedly warned that the company?s survival depends on securing new funding, which has been constrained by lingering uncertainty over AGR liabilities. The government now owns 48.99% of the company after converting dues into equity.

India's third-largest telecom operator, Vodafone Idea is backed by Aditya Birla Group and Vodafone Group. The company holds 5G spectrum in 17 circles and mmWave spectrum in 16 circles, offering services across 2G, 4G and expanding 5G networks.

On a consolidated basis, Vodafone Idea's net loss stood at Rs 6,608.1 crore in Q1 FY26 higher than Rs 6,432.1 crore in Q1 FY25. Revenue from operations rose 4.9% YoY to Rs 11,022.5 crore from Rs 10,508.3 crore in Q1 FY25.

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