Quarterly service revenue for the cash-strapped operator fell to Rs9,601.8 crore from Rs. 10,891 crore, the company said in a notice to the stock exchanges on Wednesday.
“There exists material uncertainty relating to the Group’s ability to continue as a going concern which is dependent on its ability to raise additional funds as required, successful negotiations with lenders on continued support, refinancing of debts, monetisation of certain assets, outcome of the modification application filed with the Hon’ble Supreme Court and clarity of the next instalment amount, acceptance of its deferment request by DoT and generation of cash flow from operations that it needs to settle / renew its liabilities / guarantees as they fall due,” the joint venture between UK’s Vodafone Group and India’s diversified
Group said.
It added that as of date, the Group has met all its debt obligations.
“Pending the outcome of the above matters, these consolidated financial results have been prepared on a going concern basis,” it added.
