Airtel posts mega loss of Rs 23,045 cr in July-Sept qtr

NEW DELHI:Telecom operator Bharti Airtel, which has been hit hard by the Supreme Court ruling on statutory dues, today posted highest-ever loss of Rs 23,045 crore during the second quarter ended September 30.

Airtel posts mega loss of Rs 23,045 cr in July-Sept qtr

sanjiv@tribunemail.com

New Delhi, November 14 

Telecom operator Bharti Airtel, which has been hit hard by the Supreme Court ruling on statutory dues, today posted highest-ever loss of Rs 23,045 crore during the second quarter ended September 30.

The company had recorded a net income of Rs 119 crore in the same quarter a year ago, although it said that amounts are not comparable due to adoption of new accounting system.

The consolidated revenue of Bharti Airtel was up by 4.7% at Rs 21,199 crore in the just concluded quarter.

The company said that the Supreme Court ruling has “significant financial implication on the company”.

“The company is hopeful of relief and in the absence of the same, has provided for an additional amount aggregating Rs 28,450 crore as a charge for the quarter with respect to the licence fee as estimated based on the court judgment and spectrum usage charges (SUC) as estimated based on the definition of AGR,” it said. — PTI

Cities

View All

Namesakes go for a ‘literary wedding’ in Bathinda

Book stall set up at the venue; two plays staged to mark occ...

MC meet a stormy affair

Councillors across parties protest against stray catttle men...

Farmers want ‘Red Circle’ entries in revenue records withdrawn

Block GT Road on Day 3 of protest; submit memo to SDM

Celebrations turn tragic as three students die in mishap

Were going on bike to celebrate their success in 2nd-yr MBBS...

NRI alumni transform govt school in village

Two brothers had spent Rs1.35 cr for new building, flooring,...