![]() “Further, as a result of earlier rating downgrade, certain lenders had asked for increase of interest rates and additional margin money/security against existing facilities…as of date the group has met all its obligations. The total debt of the group stands at Rs 1.9 lakh crore as on September 30, while an amount of Rs 10,022 crore has been classified from non-current borrowings to current maturities of long-term debt for not meeting certain covenant clauses under the financial agreements. The company has incurred a loss of Rs 14,451 crore for the half year ended September 30, and its net worth stands at a negative Rs 52,685 crore. In the notes to profit and loss account, the auditors of the company have noted that VIL’s ability to continue as a going concern is dependent on raising funds as required, successful negotiations with lenders for continued support and generation of cash flow from operations that it needs to settle its liabilities as they fall due. Though the company’s numbers have improved on the back of increased average revenue per user (Arpu), a turnaround hinges on its ability to raise funds now that the government has provided it a cash flow relief by offering a four-year moratorium on payment adjusted gross revenue (AGR) and spectrum dues. The Ebitda (earnings before interest, tax, depreciation and amortisation) during the quarter improved to Rs 3,863 crore, up 4.2% sequentially, while the margins increased 60 basis points q-o-q to 41.1%, aided by improvement in revenue which was partially offset by increase in customer acquisition costs due to higher gross additions during the quarter and other inflationary cost increases, company said in a statement. ![]()
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