Bharti Airtel Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
1. The financial results for the quarter and nine months ended December 31, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on January 31, 2019.
2. The financial results are extracted from the Audited Interim Condensed Standalone Financial Statements which are prepared in accordance with Indian Accounting Standards ('Ind AS') as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder.
3. Exceptional items during the quarter ended December 31, 2018 comprises of (i) charge of Rs. 1,112 Mn towards operating costs on network re-farming and up-gradation program; and (ii) credit of Rs. 12,623 Mn due to re-assessment of levies. Net tax charge on the above is Rs. 4,022 Mn.
4. On January 8, 2013, the Department of Telecommunications (‘DoT’) issued a demand on the Company for Rs. 51,353 Mn towards levy of one time spectrum charge, which was further revised on June 27, 2018 to Rs 79,403 Mn. Based on a petition filed by the Company, the Hon'ble High Court of Bombay, through its order dated January 28, 2013, has directed DoT to respond and not to take any coercive action until the next date of hearing. The Company, based on independent legal opinions, till date has not given any effect to the above demand.
Gopal Vittal Managing Director and CEO (India & South Asia)