Telcos look at Rs 92,641 crore payout in a 14-year old dispute with Department of Telecommunications. Maruti Suzuki reports 25 per cent decline in sales during September quarter. IndiGo posts net loss of Rs 1,062 crore during second quarter on back of high maintenance cost. Read for more headlines from the world of business and economy:
The AGR has been a long-standing dispute between DoT and the telcos, primarily Bharti Airtel and Vodafone Idea who will now have to shell out about 54 per cent of the pending amount - Rs 21,682 crore for Airtel and Rs 28,308 crore for Vodafone Idea.
The net sales fell by 25.2 per cent to Rs 16,120.40 crore in Q2FY20 as against Rs 21,551.90 crore in Q2FY19. Total revenue during the quarter declined to Rs 17,905.30 crore as compared to Rs 22,959.80 crore in the year-ago period, impacted by fall in sales volumes.
Revenue from operations surged 31.1 per cent to Rs 8,539.80 crore as against Rs 6,514.10 crore in the corresponding quarter
India climbed the rankings by making it easier to do business in four of the 10 areas of business regulation that the report measures, namely business incorporation, getting construction permits, resolving insolvency and trading across borders.
Infosys says consistent with its whistleblower policy, complaints are presented before the board's audit committee, following which they were thoroughly reviewed and appropriately dealt with.