Airtel posts loss of over Rs 1000 crore in third quarter of FY 20
In the third quarter of FY 2020, Bharti Airtel has suffered a major setback. Bharti Airtel has lost a total of Rs 1,035 crore in this quarter. Earlier, the company had shown a loss of Rs 23,045 crore in the second quarter of FY 2019.
According to statistics, Bharti Airtel has suffered the biggest loss in this quarter in 14 years. Bharti Airtel had a profit of Rs 86 crore during the second quarter last year.
Recently the company has increased the tariff
Bharti Airtel’s total profit from operations increased by 8.5 percent to Rs 21,947 crore in the December quarter. During the same period last year the revenue was Rs 20,231 crore. Bharti Airtel announced to increase the tariff in December 2019. This was considered to be a step taken to improve the company’s economic condition.
This result of Airtel has come when the Supreme Court has agreed to the hearing of Airtel’s petition related to AGR. The company owes Rs 35,586 crore as AGR. All the telecom have been given a notice of liability of Rs 1 lakh crore by the Department of Telecommunication (DoT). It also includes interest and penalty.
