The incumbent telecommunications operators Bharti Airtel and Vodafone Idea, who were hardest hit by the latest Security Council decision on defining telecom revenues, are expected to announce their financial results on November 14.
"… notice is hereby given that the meeting of the board of directors of the Company will be held on Thursday, November 14, 2019 to review and consider the audited financial results (stand-alone and consolidated) for the second quarter and the first quarter. second half year ended September 30, 2019, "said Airtel in a regulatory filing.
Last month, Bharti Airtel had told the stock market that she had postponed the announcement of the quarter's results from September through November 14 due to the adjusted gross income (AGR) issue.
In another case, Vodafone Idea also announced that its board would meet on November 14 to "review and approve the Company's unaudited financial results for the second quarter and six months ended September 30, 2019".
Airtel, Vodafone Idea and Other Telecoms Operators May Pay Rare 1.4 Million Rupees to the Government Following the Recent Supreme Court Order That Brought Shock to an Industry Already Experienced with billions of dollars of debt and with an intense tariff war to keep its customers.
Last month, the Supreme Court upheld the government's position of including revenues from non-telecom activities in the calculation of the annual telecommunication companies' AGR, of which a portion is paid in form. royalties and spectrum fees to the public treasury.
According to calculations by the telecommunications department, Bharti Airtel faces a liability of about 42,000 crores of rupees after including user fees and spectrum usage, while Vodafone Idea may have to pay about 40,000 crores of rupees. Jio may have to pay about 14 million rupees.