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Bharti Airtel Q1 loss widens to Rs 15,933 crore

Summary

(Consultant picture) NEW DELHI: Telecom operator Bharti Airtel on Wednesday reported substantial widening of losses to Rs 15,933 crore for June quarter, primarily on account of provisioning for statutory dues. The loss for the corresponding interval final 12 months stood […]

(Consultant picture)

NEW DELHI: Telecom operator Bharti Airtel on Wednesday reported substantial widening of losses to Rs 15,933 crore for June quarter, primarily on account of provisioning for statutory dues.
The loss for the corresponding interval final 12 months stood at Rs 2,866 crore.
The income for Q1 FY21 got here in at Rs 23,939 crore, up 15.four per cent from year-ago interval.
The consolidated internet loss earlier than distinctive gadgets for the quarter stood at Rs 436 crore, an Airtel assertion stated, including that consolidated internet loss after distinctive gadgets stands at Rs 15,933 crore.
The corporate famous that the Supreme Court docket has reserved its order on the difficulty of interval over which AGR (adjusted gross income) funds may very well be made.
“Consequently, with out prejudice and on prudence, throughout the quarter ended June 30, 2020 the Group has additional recorded an incremental provision of Rs 107,444 million.
“…to present impact of the differential quantity between DoT demand together with provision for subsequent intervals for which calls for haven’t been obtained computed based mostly on the phrases of the license settlement, court docket judgment and the rules / clarifications and AGR provision, which has been introduced as distinctive merchandise,” the assertion stated.

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