Vodafone Idea Limited (Vi) has paid around 10 per cent of its statutory dues to the Department of Telecommunications (DoT) for the first quarter (Q1) of the fiscal year (FY) 2023-24. The telco has committed to pay the remaining amount by the end of September 2023.
Vi, which runs a gross debt of Rs 2.1 trillion, reportedly had a payment liability of around Rs 7 billion towards the statutory dues, which includes licence fees and spectrum usage charges.
As per industry sources, the DoT remains hopeful that Vi is working on credible plans towards a turnaround as the government does not interfere in the day-to-day management of operations. It is also waiting for promoters to put in further equity, apart from bringing in a much-required mega-funding through debt or bank loan funding.
