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Telecom giant Bharti Airtel has made a significant prepayment of Rs 8,024 crore to the Department of Telecommunications (DoT) as part of its deferred liabilities for the spectrum acquired during the 2015 auction, according to an official announcement made on Monday.
The Sunil Mittal-led company disclosed that the payment includes an interest component of 10 per cent. Airtel leveraged the advantage of a much lower cost of financing available to the telecom major while settling the deferred liabilities.
In an official release, Bharti Airtel stated, "We have prepaid Rs 8,024 crore to the Department of Telecom (Government of India) towards part prepayment of deferred liabilities pertaining to spectrum acquired in the auction of the year 2015."
Emphasizing its focus on financial flexibility through optimizing the capital structure, Airtel has been diligently working on cost-efficient financing strategies and capitalizing on opportunities that result in significant interest savings. The recent prepayment aligns with the company's commitment to strategic financial planning.
Airtel's proactive approach in fulfilling its deferred liabilities demonstrates its commitment to compliance and adherence to regulatory obligations. By addressing these dues, the telecom major strengthens its position and underscores its financial responsibility.
Having rolled out 5G services in India in October 2022, Bharti Airtel continues to be at the forefront of technological advancements in the telecom industry. The company's consistent efforts in bolstering its infrastructure and network capabilities have positioned it as a frontrunner in providing cutting-edge services to consumers across the country.
As Airtel remains committed to delivering superior network experiences and expanding its service offerings, the prepayment of deferred liabilities stands as a testament to the company's dedication to financial prudence and its unwavering commitment to driving India's digital transformation.
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