Bharti Airtel prepays ₹7,904 Crore to DoT in spectrum related charges

18 Jun 2024 , 10:33 AM

On Friday, June 14, Bharti Airtel Ltd prepaid ₹7,904 Crore to the Department of Telecom (Government of India).

According to a stock exchange statement, the company has fully prepaid all deferred liabilities related to the spectrum acquired in 2012 and 2015, which had the highest interest rates of 9.75% and 10%, respectively.

In January this year, Bharti Airtel prepaid ₹8,325 Crore to the Department of Telecom for part payment of delayed liabilities from the 2015 spectrum auction.

Bharti Airtel received ₹29,129.08 Crore in the March 2015 spectrum auction. The company paid ₹11,374.7 Crore, whereas the upfront payment owing was ₹7,832.20 Crore.

Bharti Airtel’s net profit fell 31% year on year (YoY) to ₹2,071.6 Crore for the fourth quarter ending March 31, 2024. In the same quarter, Bharti Airtel reported a net profit of ₹3,006 Crore, according to a regulatory filing.

The quarterly average revenue per user (ARPU) was ₹209, up from the previous quarter’s ₹208. Bharti Airtel’s profit decreased 10.5% to ₹7,467 Crore from ₹8,346 Crore in FY23.

The company’s yearly revenue from operations climbed by 7.7% to ₹1,49,982.4 Crore during the reported fiscal year, up from ₹1,39,144.8 Crore in 2022-23. As of March 31, 2024, the corporation has 562 million clients, up 8.4% from 518 million in the same quarter last year.

The total number of minutes used on the network during the quarter was 1,347 Billion, up 8.2% from 1,245 billion in the same quarter last year.

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