Vodafone Idea Q2 loss at Rs 50,921 crore

New Delhi: Hit hard by the unpaid statutory dues, telecom operator Vodafone Idea on Thursday posted a colossal Rs 50,921 crore loss for the second quarter ended September 30, and said it is in the process of filing a review petition on the adjusted gross revenue matter.

This is the highest ever quarterly loss posted by any Indian company in recent memory. Vodafone Idea said its ability to continue as going concern is dependent on obtaining relief from the government and positive outcome of the proposed legal remedy.

The SC order on Adjusted Gross Revenue (AGR) matter "has significant financial implications for the industry", VIL said in a statement.

Its total loss stood at Rs 50,921 crore in September quarter, against Rs 4,874 crore loss in the year-ago period. Its revenue rose 42 per cent to Rs 11,146.4 crore during the second quarter this year.