New Delhi, Nov. 10 -- Vodafone Idea Ltd, India's third-largest telecom operator, surprised with a better-than-expected performance on a decline in expenses, especially finance costs, in the September quarter.

However, its debt of over Rs.2 trillion and repayments starting next year continue to weigh on its finances, making its survival dependent on government relief, according to analysts.

The telecom operator posted a net loss of Rs.5,524 crore, lower than the year-ago loss of Rs.7,176 crore and also Bloomberg's estimate of a loss of Rs.6,712 crore.

The lower losses can be attributed to a reduction in expenses, particularly finance costs, which include interest payments on debt and other liabilities, accounting for 43% of its revenue ...