Airtel loss at Rs 5237 crore

Telecom major Bharti Airtel reported a net loss of Rs 5,237 crore in the January-March quarter of the current fiscal mainly on account of provisions for statutory dues.

The company had posted a profit of Rs 107.2 crore in the same period a year ago.

Bharti Airtel registered a consolidated revenue of Rs 23,722.7 crore during the reported quarter against Rs 20,602.2 crore in the corresponding quarter of 2018-19.

The company took a hit because of an exceptional item of Rs 7,004 crore in the quarter, which comprised regulatory costs based on a recent judgment on one-time spectrum charge.