Recent Comments

    Social menu is not set. You need to create menu and assign it to Social Menu on Menu Settings.


    1 min read

    Narendra Modi will lay the foundation stone of the new Parliament on 10 December. Lok Sabha Speaker Om Birla gave this information. According to the information, PM...

    2 min read

    The long-standing deadlock between the Central and State governments over the GST compensation amount has ended. All 28 states and three union territories with legislative assembly...

    1 min read

    Mulayam Singh Yadav, former Uttar Pradesh CM and founder and mentor of Samajwadi Party, reached the Khadi Ashram in Hazratganj late Friday. Suddenly on seeing Netaji,...

    2 min read

    Farmers are frozen on the Delhi border against the agricultural laws of the Center. At the same time, on this issue, Home Minister Amit Shah went...

    1 min read

     Apple announced that it was launching a new Replacement Program for affected iPhone 11 units. iPhone 11 units produced between September 2019 and May 2020 are eligible...

    December 5, 2020

    Bharti Airtel Q2 net loss balloons to ₹23,045 crore

    2 min read

    Text to Voice

    Ltd posted a , its second quarterly loss in 14 years, amid a by  that has ravaged its rivals and .

    The New Delhi-based operator swung to a ₹23,045 crore loss in the quarter ended 30 September from a net profit of ₹118 crore in the year earlier, due to provisions made for an unfavourable court verdict.

    Bharti Airtel’s net loss exceeded its consolidated revenue from operations which grew 4.9% year on year to ₹21,131 crore in the September quarter.

    Airtel’s results come three weeks after the apex court upheld the government’s broader definition of revenue, on which it calculates levies on telecom operators, dealing a ₹92,000 crore blow to the telecom industry, which is already burdened with falling tariffs and mounting debt.

    The top court rejected the definition of the adjusted gross revenue proposed by telecom operators and excluded revenue from non-core telecom operations, such as rent, dividend and interest income. The order marked the end of a 14-year legal tussle between the DoT and operators.

    The department of telecommunications has also asked operators to conduct a self-assessment of dues.

    Bharti Airtel, in a statement on Thursday, said it is hopeful of relief and in the absence of the same, has provided for an additional amount aggregating ₹28,450 crore as a charge for the quarter (comprising of Principal of Rs. 6,164 crore, interest of ₹12,219 crore, penalty of Rs. 3,760 crore, and interest on penalty of Rs. 6,307 crore) with respect to the license fee as estimated based on the Court Judgement and spectrum usage charges as estimated based on the definition of AGR.

    Leave a Reply

    Your email address will not be published. Required fields are marked *