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He succeeds Murthy GVAS, whose tenure as CFO ended at the close of business hours on 5 October 2025.
The decision was approved by the company's board of directors based on the recommendations of the audit committee and the nomination and remuneration committee.
Tejas Mehta, aged 49, joins Vodafone Idea from Mondelēz India, where he served as the chief financial officer. A Chartered Accountant (Class of 1997), Mehta brings with him over 25 years of extensive experience across India and international markets, having led large P&Ls through phases of growth, transformation, and integration.
He began his career at Marico Industries before joining Mondelēz India in 2002 as a Treasury Manager. Over the next two decades, he held several senior leadership roles across geographies, including Group Finance Controller in London, CFO for Thailand and Turkey, and Supply Chain Finance Lead for Asia Pacific, Middle East, and Africa. In 2022, he returned to India to take on the CFO role at Mondelēz India.
Throughout his career, Mehta has played a pivotal role in driving business growth amid challenging macroeconomic conditions marked by sectoral volatility and inflationary pressures. He has also led the development of regional Centres of Excellence, strengthened business processes, and championed global initiatives in functional excellence and talent development.
India's third-largest telecom operator, Vodafone Idea is backed by Aditya Birla Group and Vodafone Group. The company holds 5G spectrum in 17 circles and mmWave spectrum in 16 circles, offering services across 2G, 4G and expanding 5G networks.
On a consolidated basis, Vodafone Idea's net loss stood at Rs 6,608.1 crore in Q1 FY26 higher than Rs 6,432.1 crore in Q1 FY25. Revenue from operations rose 4.9% YoY to Rs 11,022.5 crore from Rs 10,508.3 crore in Q1 FY25.
Shares of Vodafone Idea shed 0.34% to Rs 8.80 on the BSE.
Vodafone Idea Ltd, Wockhardt Ltd, Solara Active Pharma Sciences Ltd and Prudent Corporate Advisory Services Ltd are among the other losers in the BSE's 'A' group today, 26 September 2025.
PC Jeweller Ltd lost 8.62% to Rs 12.29 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 203.38 lakh shares were traded on the counter so far as against the average daily volumes of 85.89 lakh shares in the past one month.
Vodafone Idea Ltd tumbled 8.41% to Rs 7.95. The stock was the second biggest loser in 'A' group.On the BSE, 1268.84 lakh shares were traded on the counter so far as against the average daily volumes of 924.81 lakh shares in the past one month.
Wockhardt Ltd crashed 7.96% to Rs 1356.75. The stock was the third biggest loser in 'A' group.On the BSE, 70643 shares were traded on the counter so far as against the average daily volumes of 17994 shares in the past one month.
Solara Active Pharma Sciences Ltd pared 7.88% to Rs 620. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 36406 shares in the past one month.
Prudent Corporate Advisory Services Ltd slipped 7.56% to Rs 2575. The stock was the fifth biggest loser in 'A' group.On the BSE, 7517 shares were traded on the counter so far as against the average daily volumes of 1669 shares in the past one month.
The company has argued that the demand goes beyond the Supreme Court’s earlier ruling on AGR liabilities. The DoT, however, told the court that the dues are not a reassessment. It said the figure arises from gaps identified during the finalisation of financial accounts.
Out of the total demand, Rs 2,774 crore relates to Vodafone Idea’s post-merger entity. Another Rs 5,675 crore pertains to pre-merger liabilities of the Vodafone Group. Vodafone Idea has disputed the computation. It claims some figures were duplicated and has sought a fresh reconciliation of dues dating back to the pre-FY17 period.
Vodafone Idea faces AGR dues of around Rs 83,400 crore, with annual obligations of nearly Rs 18,000 crore kicking in from March 2025. CEO Akshaya Moondra has repeatedly warned that the company’s survival depends on securing new funding, which has been constrained by lingering uncertainty over AGR liabilities. The government now owns 48.99% of the company after converting dues into equity.
The company has also been in talks with lenders for fresh funding. The telco reiterated its commitment to continue capital expenditure. It is also exploring both banking and non-banking funding options. Past government relief measures, such as spectrum payment deferments, reform packages, and conversion of dues into equity, have supported the sector. Vodafone Idea has urged that the current dispute be settled before March 2026 to ensure timely funding.