Airtel reports Rs 23,045 cr Q2 loss on Rs 28,450 cr provisions towards AGR dues Revenue of the telecom firm increased by 4.79 per cent to Rs 21,199 crore in Q2FY20.

Telecom major Bharti Airtel on Thursday posted a net loss of Rs 23,044 crore for the quarter ended September 30, on Rs 28,450 crore provisions towards adjusted gross revenue (AGR) dues.

The company has provided Rs 28,450 crore as a charge for the quarter (principal Rs 6,164 crore, interest Rs 12,219 crore, penalty Rs 3,760 crore and interest on penalty Rs 6,307 crore) with respect to the licence fee as estimated based on Supreme Court’s judgement and spectrum usage charges ((SUC) as estimated based on the definition of AGR.

The group will require significant additional financing to discharge its obligations under the Court Judgement. This represents a material uncertainty whereby, it may be unable to realize its assets and discharge its liabilities in the normal course of business, and accordingly may cast significant doubt on the group's ability to continue as a going concern

-Gopal Vittal, MD & CEO, Airtel India

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