Tuesday, September 27, 2022

Bharti Airtel pays Rs 8,312 cr for spectrum upfront

Telecom major Bharti Airtel on Wednesday said it has paid Rs 8,312.4 crore to the Centre towards dues for spectrum acquired in the recently concluded 5G auctions.
The company has paid four years of 2022 spectrum dues upfront.
According to the company, the upfront payment coupled with the moratorium on spectrum dues and adjusted gross revenue (AGR) related payments for four years, will free up future cash flows and allow it to dedicate resources to single-mindedly concentrate on the 5G roll out.
Over the last one year, Bharti Airtel has also cleared Rs 24,333.7 crore of its deferred spectrum liabilities much ahead of scheduled maturities.
According to Gopal Vittal, Managing Director (MD) and Chief Executive Officer (CEO), the company also has access to Rs 15,740.5 crore in capital, from the rights issue which is yet to be called.

SourceIANS