Indian operator Bharti Airtel paid INR84.65 billion (US$1 billion) towards its debt for spectrum acquired in the 2016 auction, weeks after the supreme court threw out operator pleas to readjust their dues.
The operator acquired the spectrum for US$2.13 billion and did not state how much it owes after the figure above is deducted. It did state that it paid the money at an interest rate of 9.6%. The company had fully repaid its 2012 and 2015 spectrum fees during Q1.
Last month the Indian Supreme Court rejected operator bids to reduce their total dues for spectrum in the 2016 auction. Vodafone Idea argued the government’s adjusted gross revenue (AGR) method to collect spectrum dues was inaccurate and demanded a recalculation.
