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Sunday, March 03 2024

Airtel pays Rs 8K cr as AGR, subject to DoT reconciliation

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Airtel pays Rs 8K cr as AGR mainNew Delhi: Bharti Airtel on Saturday paid another Rs 8,004 crore more as statutory dues in its second instalment to Department of Telecom (DoT).

This takes the total amount paid by the operator to the government to Rs 18,004 crore.

The company said it is the full and final AGR amount. DoT calculations had pegged it at Rs 35,500 crore.

The latest deposit as adjusted gross revenue (AGR) dues is split into Rs 3004 crore as full and final towards its AGR dues, based on its self-assessment. It paid an additional Rs 5000 crore as “ad-hoc payment”, subject to refund after the telecom department reconciles its own estimates with the telcos.

“…the Company has paid an additional amount of Rs 3,004 crores towards the full and final amounts due over & above the ad-hoc amount of Rs 10,000 crore paid on February 17, 2020, on behalf of the Bharti Group of Companies (Bharti Airtel, Bharti Hexacom and Telenor India), said the telco in a regulatory filing on Saturday.

“In addition to the aforesaid amounts paid on basis of our self-assessment, we have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment,”(subject to subsequent refund/adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT,” it added.

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