AGR provisioning: Bharti Airtel posts pre-tax loss of Rs 31,334 crore in Q2

Operating performance improved sharply but net loss at Rs 23,045 is the third highest by an Indian corporate in a quarter

Bharti Airtel on Thursday reported a pre-tax loss of Rs 31,334 crore for the September quarter (Q2), after the company provided for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR). The pre-tax loss in the year-ago quarter stood at Rs 1,998 crore.

Given the jump in deferred taxes (tax reversal), the reported loss at the net level came in at Rs 23,045 crore in Q2, as against a profit of Rs 118.8 crore in the September quarter last year. Before provisioning for the exceptional item, the company’s net loss stood at