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    532454   INE397D01024

BHARTI AIRTEL LIMITED

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India's top court gives telecom firms 10 years to pay dues to government

09/01/2020 | 02:53am EDT

NEW DELHI, Sept 1 (Reuters) - India's top court on Tuesday gave telecom firms 10 years to pay back dues they owe to the federal government after they failed to make the payment by the January deadline.

Telecom providers in India pay the Department of Telecommunications (DoT) nearly 3-5% of their adjusted gross revenue (AGR) in usage charges for spectrum or airwaves and 8% of AGR as licence fees, but they have been at odds on the definition of AGR.

The decision would provide some respite to embattled Vodafone Idea Ltd, a joint venture between Britain's Vodafone Group Plc and India's Idea Cellular, even though it had asked the court for 15 years to complete payments.

The Supreme Court, however, asked that telecoms firms pay 10% of the dues owed by March 31, 2021.

Vodafone Idea, seen as the most vulnerable if the court did not allow for staggered payments, has so far paid 78.54 billion Indian rupees ($1.08 billion), but still owes roughly 500 billion to the government.

Bharti Airtel has said it has paid its complete dues of 180 billion rupees on the basis of self-assessment, but still needs to pay another 259.76 billion rupees, according to government calculations.

Shares in Vodafone Idea were down 14.7%, while Bharti was up 5.3% at 0623 GMT. ($1 = 72.7800 Indian rupees) (Reporting by Suchitra Mohanty; Editing by Ana Nicolaci da Costa)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -0.76% 540.9 End-of-day quote.6.20%
VODAFONE GROUP PLC 0.03% 129.84 Delayed Quote.7.36%
VODAFONE IDEA LIMITED -1.01% 9.85 Delayed Quote.-7.51%
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Financials
Sales 2021 1 019 B 13 919 M 13 919 M
Net income 2021 -156 516 M -2 137 M -2 137 M
Net Debt 2021 1 388 B 18 948 M 18 948 M
P/E ratio 2021 -18,7x
Yield 2021 0,31%
Capitalization 2 969 B 40 541 M 40 536 M
EV / Sales 2021 4,27x
EV / Sales 2022 3,85x
Nbr of Employees 18 017
Free-Float 44,0%
Chart BHARTI AIRTEL LIMITED
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Bharti Airtel Limited Technical Analysis Chart | 532454 | INE397D01024 | MarketScreener
Technical analysis trends BHARTI AIRTEL LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Average target price 696,97 INR
Last Close Price 540,90 INR
Spread / Highest target 84,9%
Spread / Average Target 28,9%
Spread / Lowest Target -27,9%
EPS Revisions
Managers and Directors
NameTitle
Gopal Vittal CEO, Managing Director & Executive Director
Badal Bagri Co-Chief Financial Officer
Nakul Sehgal Co-Chief Financial Officer
Sunil Bharti Mittal Chairman
Randeep Singh Sekhon Chief Technical Officer & Network Director
Sector and Competitors
1st jan.Capitalization (M$)
BHARTI AIRTEL LIMITED6.20%40 541
SOFTBANK CORP.8.93%60 131
CELLNEX TELECOM, S.A.21.17%42 537
SAFARICOM PLC20.44%15 327
MTN GROUP LIMITED79.68%14 177
TELE2 AB6.03%9 545