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Biz EOD: Airtel's shocking loss, SC dismisses Rafale petition, GST deadline extended

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Biz EOD: Airtel's shocking loss, SC dismisses Rafale petition, GST deadline extended
Top stories from the world of business and economy

Provisioning due to AGR payout blows a Rs 23,045 crore hole in Bharti Airtel's Q2 FY20 balance sheet. Supreme Court dismisses review petitions against its judgement in the Rafale deal case. The deadline for filing annual GST returns has been extended by the CBIC. Read for more top stories from the world of business and economy:

1. Bharti Airtel posts record loss of Rs 23,045 crore in September quarter

Bharti Airtel's consolidated net loss before exceptional items for Q2FY20 stood at Rs 1,123 crore. Consolidated total revenue stood at Rs 21,131 crore, up 4.9 per cent YoY.

2. SC dismisses Rafale review petition; says no ground to conduct probe

The Supreme Court also said that it cannot undermine the fact that the Rafale deal is a contract. The court added that there is no ground for conducting probe into the Rafale deal.

3. Deadline for GST annual return filing extended; return forms made simpler

GSTR-9, an annual return form, and GSTR-9C, a reconciliation statement, for FY 2017-18 can be filed till December 31, 2019, and the same for FY 2018-19 have to be filed by March 31, 2020.

4. Why is wholesale inflation dropping and retail inflation rising?

The divergence is a normal trend because we are not talking about the same set of products and their price variations when we look at both the indices. Even same products in these indices carry different weightages.

5. Vedanta Q2 profit jumps 61% to Rs 2,158 crore despite market headwinds

Consolidated revenue from operations declined marginally by 3 per cent to Rs 21,739 crore in Q2FY20 versus Rs 22,432 crore in Q2FY19, primarily due to headwinds in the commodity prices.

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