Vodafone pleads for govt relief after posting worst quarterly loss in India

Saddled with $14 billion of net debt, Vodafone Idea is fighting for survival after India's top court last month ordered it to pay fees the government said were due from prior years

After posting the worst quarterly loss in India’s corporate history, Vodafone Group Plc’s besieged local venture is appealing for urgent relief from the government to help avert a collapse.

Vodafone Idea Ltd. took a one-time charge related to a $4 billion demand from the government for overdue fees, leading to a net loss of 509 billion rupees ($7.1 billion) in the three months through September, the company reported Thursday after the market closed.

Formed by the merger of the US-based firm’s local unit with billionaire Kumar Mangalam Birla’s Idea Cellular Ltd., hasn’t reported a profit since the deal was announced in 2017.

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