New Delhi, May 16 -- Vodafone Idea, India's third-largest telecom operator, posted a Rs.51,970 crore net profit in the March quarter owing to one-time accounting gain from the government's adjusted gross revenue (AGR) relief.

This is the first time in recent years that the company has shown a significantly high net profit. To be sure, the telecom operator booked a Rs.58,116 crore exceptional gain during the quarter on the reduction of deferred AGR dues payment obligations.

The loss, before accounting for the exceptional gain, was at Rs.5,515 crore, narrowing from Rs.5,286 crore in the preceding quarter and Rs.7,167 crore in the year-ago period.

Separately, on Saturday, the telecom operator said the promoter, the Aditya Birla Group, has...