Bharti Airtel Q1 loss to Rs 15,933 crore

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NEW DELHI: Telecom Operator Bharti Airtel On Wednesday, the broad expansion of losses to the tune of Rs 15,933 crore for the June quarter was mainly due to provision of statutory dues.
The loss for the same period last year was Rs 2,866 crore.
Revenue for Q1 FY21 was Rs 23,939 crore, a 15.4 percent increase from the year-ago period.
Airtel said in a statement that the consolidated net loss before exceptional items for the quarter was Rs 436 crore, with Airtel stating that the consolidated net loss stood at Rs 15,933 crore.
The company noted that the Supreme Court reserved its order on the issue of the period on which AGR (Adjusted Gross Revenue) payment can be made.
“As a result, without prejudice and without discretion, during the quarter ended June 30, 2020, the group has gone ahead and recorded an incremental provision of Rs 107,444 million.
“… based on license agreement, court verdict and guidelines / clarifications and AGR provision, giving effect to difference amount between DoT demand for provision for later period as well as demands which have not been calculated The statement is presented as an extraordinary object.

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