ATC books $322 mn goodwill impairment charge for India unit

Kolkata: American Tower Corp (ATC) has informed the US Securities and Exchange Commission (SEC) that it has taken a $322 million (Rs 2,677 crore approx) goodwill impairment charge for its India unit in the quarter ended September 2023, amid continuing business challenges in the country.

This is since the fair value of ATC’s India unit has dropped below its carrying amount in the September quarter, the Boston-based telecom tower company said in a recent global SEC filing.