Categories: Business

Bharti airtel Q1 loss widens to Rs 15,933 crore on AGR provision

Photo: PTI

Bharti airtel Q1 loss widens to Rs 15,933 crore

new Delhi. Telecom sector giant Bharti Airtel reported losses in the first quarter to Rs 15933 crore. The company had a loss of Rs 2866 crore in the same quarter last year. In the previous quarter, the loss was Rs 5237 crore. This jump in deficit amount has been seen due to the Adjusted Gross Revenue provision for AGR.

The telecom company's revenue rose 15.4 percent to Rs 23,939 crore during the quarter. Airtel said in a statement that if contingent expenses are removed, it incurred a consolidated net loss of Rs 436 crore in the first quarter. The company said that the Supreme Court reserved its decision on the period of payment of Adjusted Gross Revenue (AGR). The company said that in view of this, it has made an increased provision of Rs 10,744.4 crore during the quarter. With the re-assessment of the charges, the total exceptional charges have increased to around Rs 12 thousand crore. The statement said that in view of the demand of the Department of Telecommunications and the period for which the demand has not yet been received, the provision has been calculated according to the License Agreement, the judgment of the Court and the guidelines-clarification on the AGR provision. It is shown as a casual item.

On the other hand, Earnings before interest tax depreciation and amortization during the quarter increased by 3 percent to 10639 crores over the previous quarter. The margin increased 90 basis points to 44.4 percent. The company's revenue in India grew 14.6 percent over the previous year. On the average, the user has increased from Rs 129 to Rs 157 on the average revenue. Revenue from Digital TV has increased by 9.3% over the previous year. The company has a total of 42 crore customers in 16 countries during the June quarter. It has seen a decline of 0.8 per cent over the March quarter. The subscriber base in India declined by 1.3 per cent to 305 million with the previous quarter.

This post was published on July 29, 2020 9:36 pm

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