Bharti Airtel to increase tariffs from December, 2019

Telecom major, Bharti Airtel, has decided to increase tariffs from December, 2019. The announcement comes moments after Vodafone Idea, decided to increase its tariffs from December 1.

The statement read ” We understand that TRAI is likely to initiate a consultation for bringing rationality in pricing in the Indian mobile sector which has been operating at prices that have been eroding the viability of the sector.”

Highlighting the nature of the telecom sector, the brief read “Sector is highly capital intensive with fast changing tech cycles that require continuing investments. It is, therefore, extremely important that ind remains viable to support vision of Digital India. Accordingly, co will hike prices in from December.”

Earlier in the day, shares of Bharti Airtel hit a 21-month high of Rs 420, up 7 per cent on the BSE on Monday and surging 20 per cent from its Friday’s low as most of the brokerages maintained a bullish stance on strong operating performance in September quarter (Q2FY20).

On November 15, Airtel said its net loss was on account of exceptional charge pertaining to the provisioning of Rs 28,450 crore towards the AGR dues, which included principal of Rs 6,164 crore, interest of Rs 12,219 crore, penalty of Rs 3,760 crore, and interest on penalty of Rs 6,307 crore.


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