Telecom operator Bharti Airtel recently took a significant step by prepaying Rs 8024 crore to the Department of Telecom (DoT) to clear its ‘high cost’ deferred liabilities related to the acquisition of spectrum in a 2015 auction. This strategic move comes as the company aims to enhance its cash flows and reduce annual interest expenses.
Improving Financial Flexibility for 5G Network Rollout
The operator’s decision to prepay the spectrum dues comes with the advantage of leveraging lower-cost financing opportunities available to the company. Bharti Airtel expects this move to have a positive impact on its financial flexibility, particularly concerning the cost of financing. With this boost, the telecom giant has set its sights on rolling out 5G networks and offering advanced mobile broadband services on a national level by December.
Airtel’s IoT Success Story
Apart from the spectrum dues, Bharti Airtel made headlines last week when it achieved a remarkable feat in its Business-to-Business (B2B) division. The company became the first ICT service provider in India to connect over 20 million devices through its Internet of Things (IoT) solutions. Airtel’s IoT deployment has seen significant success, including major partnerships for deploying smart meters in Bihar and powering bikes, contributing to India’s digital growth journey.
A Key Pillar in India’s Digital Growth
Commenting on the success of IoT, Ganesh Lakshminarayanan, Airtel Business (India)’s Chief Executive Officer (CEO), expressed delight over achieving the milestone of 20 million connected devices on the platform. He emphasized that IoT serves as a critical pillar in India’s digital growth journey, and Airtel is committed to powering this journey with future-ready technology solutions for connected devices.
The Hindustan Herald Is Your Source For The Latest In Business, Entertainment, Lifestyle, Breaking News, And Other News. Please Follow Us On Facebook, Instagram, Twitter, And LinkedIn To Receive Instantaneous Updates. Also Don’t Forget To Subscribe Our Telegram Channel @hindustanherald