Airtel postpones Q2 results as it seeks ‘support’ from govt over Rs 42,000-cr statutory levies

New Delhi, Oct 29 () Bharti Airtel has deferred the release of its second-quarter earnings report till November 14 as it sought clarity and “support” from the government on Rs 42,000-crore statutory dues it owes to the exchequer following the Supreme Court judgment.
It was scheduled to announce earnings for July-September quarter on Tuesday but in a notice to the stock exchanges, it said the same is now being deferred till November 14.

“The company is approaching the Department of Telecommunications (DoT) to seek clarity on the total amounts involved and request for their support to deal with this adverse outcome,” it said in the notice.

Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.