Tuesday, July 1, 2025

Creating liberating content

Heart disease is the leading cause of death in the

Related News

The US seeks market access for GM crops and cattle feed in India, which presents a delicate situation for New Delhi. (AI image) India-US trade deal: With Indian officials extending

The new RailOne app will host all passenger services in one app. Indian Railways launches new ‘RailOne’ app: With an aim to bring more convenience to passengers, Indian Railways has

File photo: PM Modi (Picture credit: PTI) Prime Minister Narendra Modi’s upcoming visit to Namibia on July 9, as part of his five-nation tour, is expected to boost strategic ties

Heart disease is the leading cause of death in the world, yet often its symptoms remain dormant for years, and only show up when the condition has worsened to the

While hydration is vital, what’s lesser known is when to drink water. Doctors who practise integrative medicine often avoid drinking water immediately before, during, or right after meals. Water intake

Market participants are awaiting commentary from the US Federal Reserve Chairperson for directional guidance. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in

Trending News

The new RailOne app will host all passenger services in one app. Indian Railways launches new ‘RailOne’ app: With an aim to bring more convenience to passengers, Indian Railways has

Market participants are awaiting commentary from the US Federal Reserve Chairperson for directional guidance. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in

Representative image (Picture credit: PTI) Oil marketing companies have reduced the price of 19 kg commercial LPG gas cylinders by Rs 58.50, offering some respite to commercial users from July

Representative image (Picture credit: AP) Asian equities edged up on Tuesday while oil prices continued their decline amid uncertainty over US tariffs and expectations of increased crude supply by OPEC+.

Top stocks to buy (AI image) Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Tech Mahindra, and Trent are the top

Mumbai: The dollar ended June with its worst first-half performance in four decades. However, the dollar’s slide in the international markets has been masking the rupee’s weakness, which is seen

Airtel’s request to convert dues into equity may not get govt nod

Word Count: 665 | Estimated Reading Time: 4 minutes


Airtel's request to convert dues into equity may not get govt nod

New Delhi: Airtel’s request for conversion of its statutory dues into equity – on the lines of a bailout given to Vodafone Idea – may not be approved by the Department of Telecom (DoT) in view of healthy financial state of the company, govt sources said.Airtel surprised many when in April it approached DoT for conversion of its payments towards spectrum and AGR into an equity swap. This would have seen the govt receive a slice of the company’s shareholding in lieu of outstanding payments, similar to what was done by the beleaguered Vodafone Idea, in which the govt now has a 49% stake.

`

DoT, which has conducted a preliminary assessment of Airtel’s demand, believes the company’s request does not hold much merit. “There seems to be no need to discuss this proposal. The company is sufficiently healthy and does not appear to be in need of such a financial bailout,” top sources told TOI.Unlike Vodafone Idea, which has a debt in excess of Rs 2 lakh crore and is losing thousands of crores of rupees in losses every quarter, Airtel remains strong and healthy. In FY25, the company posted an over four-fold increase in consolidated net profit to Rs 33,556 crore from Rs 7,467 crore in FY24. Its annual revenue from operations grew 15% to Rs 1.7 lakh crore in the year ending March 31, 2025, from Rs 1.5 lakh crore in FY24. For FY25, Vodafone Idea incurred a loss of Rs 27,383 crore (Rs 31,238 crore in FY24) and its net worth stood at negative Rs 70,320 crore.Sources added that Airtel decided to seek the equity swap from govt as it believed that the step would help it conserve cash. The company is understood to have dues of over Rs 70,000 crore, including Rs 40,000 crore of AGR dues.The sources also said the window to apply for the moratorium for telecom companies to avail the equity swap deal ended on March 31 this year, making Airtel ineligible.





Source link

Sign In

Welcome ! Log into Your Account