Latest News | Voda Idea Debt at Rs 2.17 Lakh Cr in Dec 2024 Quarter, Govt Stake Up at 48.99 Pc

New Delhi, Apr 9 (PTI) The debt of Vodafone Idea Ltd (VIL) increased by about 7 per cent to Rs 2.17 lakh crore in December 2024 quarter mainly on account of increase in statutory liabilities, the company said on Wednesday.

VIL recorded total debt of Rs 2,03,400 crore in December 2023 quarter.

Also Read | What Is the Retirement Age of Government Doctors and for Nursing Faculty in India? Know Which Medical Field Practitioners Can Serve Till 65.

According to the company's investor presentation, the debt of Rs 2.17 lakh crore comprises Rs 2,14,700 crore payment obligations towards the government and Rs 2,300 crore debt from banks and financial institutions.

"Debt from banks and financial institutions has reduced by Rs 107 billion(Rs 10,700 crore) over the last 2 years," the presentation said.

Also Read | UAN Activation Based on Aadhaar Authentication: EPFO Members Can Now Activate Universal Account Number Using Aadhaar Face Authentication Technology via UMANG Mobile App.

This status of debt published in the presentation was before the government announced increasing its stake in the company to 48.99 per cent from 22.6 per cent by converting dues worth Rs 36,950 crore into VIL's equity.

The debt of Rs 36,950 crore comprised certain spectrum dues payable during FY 2026 to FY 2028.

VIL completed the allotment of shares to the government on Tuesday post which the government now holds 48.99 per cent stake in the company.

According to the presentation, promoter group firms Vodafone Group holds 16.07 per cent and Aditya Birla group 9.5 per cent stake in the company post government's dues conversion into equity.

Earlier, the government had converted VIL debt of about Rs 16,130 crore comprising interest arising from deferment of AGR (adjusted gross revenue) and spectrum instalments in February 2023.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)