Bharti Airtel Q1 loss widens to Rs 15,933 crore

Telecom operator Bharti Airtel on Wednesday reported substantial widening of losses to Rs 15,933 crore for June quarter, mainly on account of provisioning for statutory dues.

The loss for the corresponding period last year stood at Rs 2,866 crore.

The revenue for Q1 FY21 came in at Rs 23,939 crore, up 15.4 percent from year-ago period.

The consolidated net loss before exceptional items for the quarter stood at Rs 436 crore, an Airtel statement said, adding that consolidated net loss after exceptional items stands at Rs 15,933 crore.
The company noted that the Supreme Court has reserved its order on the issue of period over which AGR (Adjusted Gross Revenue) payments could be made.

“Consequently, without prejudice and on prudence, during the quarter ended June 30, 2020 the Group has further recorded an incremental provision of Rs 107,444 million.