Vodafone Idea Ltd now a negative Rs 43,474.7 crore net-worth firm as of Q2 FY 21

Vodafone Idea Ltd now a negative Rs 43,474.7 crore net-worth firm as of Q2 FY 21

The Department of Telecommunications (DoT) today released the ownership details of the applicants participating in the Spectrum Auction 2021 next month. The applicant ownership details have revealed that Vodafone Idea’s net-worth slipped to a negative Rs 43,474.7 crore as of 30th September 2020. The net worth slipped from a negative Rs 10,931.5 crores as of 31st March 2020 to Rs 43,474.7 crore as of 30 September 2020 within 6 months.

Notably, Vodafone Idea Ltd hasn’t yet declared the Q3 FY 21 results which is schedule for tomorrow, a day after DoT released the initial list of applicants for Spectrum Auction 2021. According to media reports Vodafone Idea Ltd was hesitant about declaring its net worth and had approached DoT to potentially refrain from mentioning the net worth.

The net worth of VIL will likely dip even further as on December 31, 2020, or Q3 FY 21 end. The company saw a sharp dip of Rs 22,000 crore (approximate) in its net worth in six months. VIL’s paid-up capital as of 30th September 2020 is said to be Rs 28,735.4 crores which were the same as on 31 March 2020, the last audited statement.

Reliance Jio Net-Worth

Reliance Jio meanwhile has the highest net-worth among Indian private telecom operators at Rs 1,79,617 crore as of 31st December 2020. The net-worth as on the last audited statement on 31st March 2020 stood at Rs 1,70,962 crore.

The paid-up capital as of 31st December 2020 stood at Rs 1,54,125 crore same as that on the last audited statement on 1st March 2020.

Bharti Airtel Net-Worth

Bharti Airtel is second behind Reliance Jio in terms of net-worth at Rs 71,303.1 crores as of 31st December 2020, the last audited statement. The paid-up capital stood at Rs 2,727.8 crore as of 31st December 2020, the last audited statement.

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The Department of Telecommunications (DoT) today released the ownership details of the applicants participating in the Spectrum Auction 2021 next month. The applicant ownership details have revealed that Vodafone Idea’s net-worth slipped to a negative Rs 43,474.7...

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