Bharti Airtel Clears Rs 7,904 Cr Spectrum Dues

Bharti Airtel has prepaid Rs 7,904 crore in spectrum dues to the Department of Telecom, clearing liabilities from 2012 and 2015 auctions. The move reduces the company's consolidated net debt to Rs 2,04,646 crore as of March 31, 2024.

PTI | New Delhi | Updated: 14-06-2024 21:33 IST | Created: 14-06-2024 21:33 IST
Bharti Airtel Clears Rs 7,904 Cr Spectrum Dues
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Telecom giant Bharti Airtel announced on Friday that it has prepaid the entire spectrum dues of Rs 7,904 crore, as part of its liabilities from spectrum acquired in 2012 and 2015 auctions.

The spectrum acquisition included Rs 8.67 crore in 2012 and a hefty Rs 29,129 crore in 2015. This strategic financial decision was aimed at settling the highest interest liabilities, which stood at 9.75% and 10% respectively.

As a result, Bharti Airtel's consolidated net debt has been brought down to Rs 2,04,646 crore by March 31, 2024, reflecting a significant reduction from Rs 2,13,126.4 crore the previous year.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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