Airtel Q1 loss widens to Rs 15,933 crore

Bharti Airtel has reported sharply higher losses for the June quarter as it made additional provisions towards the adjusted gross revenue (AGR) dues. The country’s second largest telco has posted a consolidated loss of Rs 15,933 crore compared with a net loss of Rs 5,237 crore in the March quarter and Rs 2,866 crore in the corresponding previous quarter.

Brokerages had expected the telco to report net losses of up to Rs 2,000 crore. The Supreme Court on June 18 observed that the amount of AGR dues assessed by the DoT is to be treated as final. Bharti Airtel added that it has, therefore, recorded an incremental provision of Rs 10,744 crore.