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Posted at: Nov 15, 2019, 6:50 AM; last updated: Nov 15, 2019, 6:50 AM (IST)

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

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

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

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