The Supreme Court decision on AGR will prolong the recovery of the telecom sector

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MUMBAI: The Supreme Court's decision to reject an application by telecom companies to recalculate adjusted gross revenue (AGR) would be counterproductive to the recovery of the telecom sector and the recovery of the sector would be further prolonged given the high debt burden and low tariffs of telecom companies.

The apex court had rejected the pleas of major telecom companies, including Vodafone Idea and Bharti Airtel. The application was made to rectify the so-called errors in the calculation of AGR-related arrears.

Following the Supreme Court ruling, an analyst said that companies in the sector would have to find ways to raise funds or sell their assets in order to meet their obligations to pay off debts and payments to the telecom department. Not only that, companies will have to significantly increase the ARPU level.

The high debt burden on the telecom sector and the amount owed to the telecom department is very high. To meet this responsibility, companies will have to find new ways to generate revenue.

The companies had filed an application in the Supreme Court with a claim that the AGR should be recalculated as there was an error in the calculation.

According to an estimate, telecom companies owe more than Rs 2,000 crore to the telecom department under AGR, the analyst added.


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