The ratings agency said in a statement that the review will focus on the company’s commitments and plans to substantially reduce debt levels significantly over a short period of time; and plans to turn around the underlying Indian mobile operations.
Since Jio stormed in with introductory free data and voice services, the market has consolidated into three big providers, including Vodafone Idea Ltd., which completed its merger at the end of August.
On May 11, Reliance Jio had filed a complaint with DoT saying that Bharti Airtel had violated UL conditions by not setting up domestically the network-related infrastructure for e-SIM facility that allows pairing of the Apple Watch with the iPhone.
As ordered by the Telecom Disputes Settlement and Appellate Tribunal and the SC the approval was granted without Bharti having to pay Rs 1,500 crore towards the one-time spectrum charge (OTSC) levied by the DoT.
The adjusted gross revenue (AGR) earned by service providers from sale of telecom services, declined by 18.87 per cent to Rs 1.6 lakh crore at the end of 2017 from Rs 1.98 lakh crore at the end of 2016, as per data published by Trai.
Bharti Airtel's total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18 compared to Rs 21,935 crore in the corresponding period last fiscal, according to a company statement.