Bharti Airtel on Thursday reported a consolidated net loss of Rs. 23,045 crores in three months to September.
The company has around 300 million customers in India through its Vodafone Idea joint venture, equivalent to around 30 percent market share, and has pumped billions into India, making it the nation's biggest foreign investor over the past decade.
Vodafone Idea also derecognised the deferred tax assets amounting to Rs 13,940 crore recorded up to June 30, 2019.
Providing relief from this (SC) judgement, he said, is "very much in the hands of the government as they are winners of this (AGR) case", adding that given "the stress and criticality of the sector, Vodafone Idea "does not see any conflict in the government being able to act in the overall interest of the economy and consumers".
In its October 24 verdict, the Supreme Court of India ruled in favour of the government's method of calculating operators' revenue, a decision that means carriers must pay about $13 billion combined - mostly license and spectrum fees built up over years.
India revenues for the quarter stood at ₹15,361 crore, up 3%, primarily led by growth in mobile revenues.
The wireless carrier had posted a net loss of 49.74 billion rupees a year ago.
Mammoth skeletons and 15,000-year-old human-built traps found in Mexico
But during preparatory excavations, workers at the site found themselves digging up woolly mammoth bones-hundreds of them. Wooly mammoths , elephant-like creatures that once inhabited nearly every continent, became extinct about 4,000 years ago.
Breakthrough reported in vaping illness outbreak investigation
Numerous vaping products linked to illnesses and deaths were purchased from bootleggers or other non-authorized dealers. Pirkle said it wouldn't be unusual for THC to be absent from some of the samples because it leaves the lungs faster.
President Trump held campaign rally in Monroe
He played up his support for public education, telling the crowd: "Are you ready to fight for teachers?" "Mr. Yovanovitch, still employed by the State Department, is in a fellowship at Georgetown University.
This was on account of the Supreme Court judgement on the Adjusted Gross Revenue (AGR) matter. Operators argued that AGR should comprise only revenue from telecom services, but the DoT insisted that it should include all revenue earned by an operator. Vodafone Idea climbed as much as 10%, after dropping as much as 19% earlier in the day.
Airtel's results come three weeks after the apex court upheld the government's broader definition of revenue, on which it calculates levies on telecom operators, dealing a Rs 92,000 crore blow to the telecom industry, which is already burdened with falling tariffs and mounting debt.
As per latest estimates by the telecom department, Bharti Airtel faces a liability of around Rs 62,187 crore, while Vodafone Idea may have to pay about Rs 54,184 crore, PTI reported.
"It is to be noted that our ability to continue as a going concern is dependent on obtaining the reliefs from the government. and positive outcome of the proposed legal remedy", Vodafone Idea said in a statement.
Bharti Airtel's MD and CEO, India & South Asia, Gopal Vittal said: "We continue to engage with the government and are evaluating various options available to us".
Analysts on average expected Bharti Airtel to report a loss of Rs. 1,116 crores for the three months to the end of September, according to Refinitiv data.
Vodafone Idea, a combination of the local unit of British Vodafone Group Plc VOD.L and billionaire Kumar Mangalam Birla's Idea Cellular, also said it was in the process of filing a review petition with the Supreme Court.