<h1>Debt-laden telecom narrows quarterly net loss; higher ARPU and lower finance costs, but solvency depends on AGR resolution and support</h1> A debt-laden telecom operator reported a narrowed consolidated net loss for the quarter driven by lower finance costs and higher ARPU from tariff increases, while subscriber base declined and net worth remained deeply negative. The operator's ability to meet liabilities depends on government support, equity/debt fundraising and operating cash flows. Outstanding obligations include bank debt, long-term deferred spectrum payments and significant AGR-related liabilities payable over years, with the end of a moratorium triggering a large immediate AGR installment. A recent Supreme Court order permits government reconsideration and reassessment of additional AGR claims, underpinning the operator's reliance on regulatory resolution to address solvency risks.