Bharti Airtel slips 4% as it defers September quarter results on AGR matter

Shares of Bharti Airtel slipped up to 4 per cent in the opening deals on Tuesday after the company deferred its September quarter results till November 14 saying it needed more clarity on adjusted gross revenue (AGR) matter. The company was slated to release its financial results today.

At 9:34 am, the stock was trading 3.69 per cent lower at Rs 358.90 apiece on the BSE. In comparison, the S&P BSE Sensex was trading 99 points or 0.25 per cent higher at 39,349 levels.

In a regulatory filing, the company on Tuesday said the management recommended to the Board of Directors to defer September quarter results announcement till November 14, 2019 on account of the fact that more clarity is needed on the AGR matter arising out of recent judgement of Hon’ble Supreme Court. “The Company is approaching DoT to seek clarity on the total amounts involved and request for their support to deal with this adverse outcome,” the statement added.