Airtel Prepays Rs 7,904 Cr Spectrum Dues
Jun 14, 2024 21:31
Bharti Airtel has prepaid Rs 7,904 crore for spectrum acquired in 2012 and 2015, reducing its consolidated net debt. Read more.
New Delhi, Jun 14 (PTI) Telecom operator Bharti Airtel on Friday said it has prepaid the entire dues of Rs 7,904 crore for the spectrum it acquired in 2012 and 2015 to the Department of Telecom.
Airtel acquired spectrum worth Rs 8.67 crore in 2012 and Rs 29,129 crore in 2015 auction.
"Bharti Airtel...said that it has prepaid Rs 7,904 crore to the Department of Telecom. With this, the Company has fully prepaid all deferred liabilities pertaining to spectrum acquired in the auction of the year 2012 and 2015, which were at the highest interest cost of 9.75 and 10 per cent, respectively," the company said in a statement.
The consolidated net debt for the company, including the impact of leases, declined to Rs 2,04,646 crore as of March 31, 2024, from Rs 2,13,126.4 crore as of March 31, 2024.
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