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Vodafone Idea Says Going Concern Depends on Court, Lenders

  • Carrier seeking help after court ruling costs it billions
  • Debt mounts at operator that hasn’t posted a profit since 2017
A building is reflected in signage atop a Vodafone Idea Ltd. store in Mumbai.
A building is reflected in signage atop a Vodafone Idea Ltd. store in Mumbai.Photographer: Dhiraj Singh/Bloomberg

Vodafone Idea Ltd., the troubled Indian wireless carrier facing a government demand for $7.7 billion in back fees, reported a wider-than-estimated quarterly loss and said continuing as a going concern depends on the outcome of talks with lenders and a court decision on scheduling the government dues.

Net loss was 116 billion rupees ($1.5 billion) in the three months ended March, the country’s No. 3 mobile phone carrier said late Tuesday. That compares with the 50 billion rupees net loss average of analyst estimates.