SME Times is powered by   
Search News
Just in:   • Lesser chance of a future rate cut drags market lower  • Nomura raises target price for RIL to Rs 2,020  • Several schemes to push women entrepreneurship: Minister  • Ex-Petroleum Secy Chaturvedi appointed NSE Chairman  • Maruti Suzuki recalls 63,493 units of Ciaz, Ertiga, XL6 
Last updated: 14 Nov, 2019  

airtel-THMB.jpg Airtel posts Rs 23,045 cr net loss in Q2 on AGR provisioning

Airtel.9.jpg
   Top Stories
» Several schemes to push women entrepreneurship: Minister
» "Govt's mantra Sabka Saath, Sabka Vikas, Sabka Vishwas"
» Forex reserves rise by $2.48 bn to over $451 bn
» RBI holds key lending rates, remains accommodative
» Goyal for making GeM more MSME-friendly
SME Times News Bureau | 14 Nov, 2019
Bharti Airtel has reported a consolidated net loss of Rs 23,044.9 crore in Q2 of 2019-20, against a loss of Rs 2,866 crore in the previous quarter, on provisions towards Adjusted Gross Revenue (AGR).

On AGR, it said the liabilities/provisions as at September 30, 2019 aggregate Rs 34,260 crore (comprising of principal of Rs 8,747 crore, interest of Rs 15,446 crore, penalty of Rs 3,760 crore and interest on penalty of Rs 6,307 crore), it said in a regulatory filing. The net loss (before exceptional items) was at Rs 1,123 crore.

Airtel has provided for an additional amount aggregating Rs 28,450 crore as a charge for the quarter (comprising of principal of Rs 6,164 crore, interest of Rs 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 judgment and spectrum usage charges (SUC) as estimated based on the definition of AGR.

The consolidated revenues for Q2 at Rs 21,131 crore grew 6.9 per cent YoY, against reported increase of 4.9 per cent, on an underlying basis. Consolidated mobile data traffic at 4,661 PBs in the quarter has registered a healthy YoY growth of 81 per cent.

India revenues for Q2'20 at Rs 15,361 crore have increased by 5.7 per cent YoY against reported increase of 3.0 per cent, on an underlying basis. Mobile revenues have witnessed a YoY growth of 7.1 per cent.

Mobile data traffic has nearly doubled to 4,497 PBs in the quarter as compared to 2,478 PBs in the corresponding quarter last year. Mobile 4G data customers increased by 56.9 per cent to 103.1 million from 65.7 million in the corresponding quarter last year. Digital TV revenue witnessed a growth of 17.1 per cent YoY on an underlying basis, against a decline of 22.9 per cent on reported basis, due to reporting changes in DTH pursuant to the new tariff order.

on AGR, it said the company is hopeful of relief but in its absence, has provided for an additional amount aggregating Rs 28,450 crore as a charge for the quarter with respect to the license fee as estimated based on the Supreme Court judgment and spectrum usage charges (SUC) as estimated based on the definition of AGR.

These provisions have been made without prejudice to the company's right to contest Department of Telecommunication's demands on facts as well as on rights available in law. Thus the liabilities/ provisions as at September 30, 2019 aggregate Rs 34,260 crore.

Airtel Business has sustained its performance on a YoY basis. Consolidated EBITDA at Rs 8,936 crore increased 40.9 per cent YoY. Consolidated EBITDA margin increased by 10.8 per cent to 42.3 per cent in the quarter as compared to 31.5 per cent in the corresponding quarter last year. Consolidated EBIT increased by 85.2 per cent YoY to Rs 1,993 crore.

The consolidated net loss before exceptional items for the quarter stands at Rs 1,123 crore, and after exceptional items, at Rs 23,045 crore.

On October 24, the Supreme Court delivered its judgement in relation to a long outstanding industry-wide case, upholding the view considered by Department of Telecommunications in respect of the definition of AGR, with significant financial implications for the telecom firms.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 07 Dec, 2019
  Daily Poll
Ease of doing business improved in last one year
 Yes
 No
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(2)
» Starting an import export business: Basic guide for beginners(1)
» BSNL starts survey for installation of mobile towers along India-China border(1)
» Sitharaman hints at more interventions amid growth concerns(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter