Airtel has made a significant payment towards its pending dues from 2016, although the exact amount was not disclosed. This payment follows the company fully prepaying its 2012 and 2015 spectrum fees earlier in the current financial year. The move comes after the Indian Supreme Court rejected telecom firms’ request to recalculate their dues owed to the government.
According to ICRA estimates, Airtel and rival Vodafone Idea collectively owe around $12 billion in dues, including spectrum charges and licensing fees. The latest payment to the government’s telecom department by Airtel carried an interest rate of 9.3%. The company did not immediately respond to a request for comment on the matter.
With this payment, Airtel continues to navigate the challenging telecom landscape in India and fulfill its financial obligations to the government. The industry awaits further developments in the ongoing saga of dues and payments in the telecom sector.
Published on 30 September 2024, 13:03 IST