Bharti Airtel hangs up

Bharti Airtel is not doing pretty well, today also. Apart from the lingering issue of the SC order on AGR weighing on the stock price, the company announced today morning that the Board has decided to postpone the earnings announcement for Q2FY20. The results were scheduled to be out today.

The management of the company recommended to the Board of Directors that the agenda item related to the approval of audited financial results for the second quarter (Q2) and half year ended September 30, 2019 which was to be a part of the Board meeting today be deferred till November 14, 2019 on account of the fact that more clarity is needed on the AGR matter arising out of recent judgement of Hon'ble Supreme Court. The company is approaching DoT to seek clarity on the total amounts involved and request for their support to deal with this adverse outcome.

The Board of Directors, in its meeting held today, has accepted the management's recommendation and deferred the agenda item relating to the approval of the said financial results till Thursday, November 14, 2019.