18-May-2024
Corporate News
 
Indus Towers expects Voda Idea to clear dues, sees cash flow improving
03-May-2024

Indus Towers on Wednesday said the company’s cash flow position may improve in the current financial year as it is confident of recovering its past dues from Vodafone Idea after its successful Rs 18,000-crore follow-on public offer (FPO). Indus Towers is engaging with Vodafone Idea for a revised payment plan to clear the outstanding dues of Rs 5,385 crore on which the former created a provision of doubtful debt as on March 31, 2024. The payment plan may also include the amount recorded as trade receivables (which also includes interest on past dues) from Vodafone Idea in the books of Indus Towers.

News Source:- https://www.financialexpress.com/business/industry-indus-towers-expects-voda-idea-to-clear-dues-sees-cash-flow-improvingnbspnbsp-3474457/