Bharti Airtel Ltd. is facing two separate penalties imposed on it by the Maharashtra and Andhra Pradesh arms of the Department of Telecommunications, according to an exchange filing on Thursday.
The Andhra Pradesh telecom body imposed a penalty of Rs 6.59 lakh for "alleged violation of terms and conditions with respect to subscriber verification norms under the License Agreement, pursuant to Sample CAF Audit conducted by DoT for December, 2024," the filing stated.
The company faced another penalty of Rs 1.37 lakh imposed on it by Maharashtra's telecom department for "alleged violation of electromagnetic field (EMF) self-certification norms".
The two penalty orders were received by Airtel on Wednesday, the filing noted. In both the cases, "the maximum financial impact is to the extent of the penalty levied", it added.
Airtel, which is India's second-largest telecom player, posted a fourfold sequential rise in its consolidated net profit to Rs 14,781.2 crore in the quarter ended December 2024. The company's average revenue per user during the same period rose to Rs 245, as compared to Rs 233 in the preceding quarter.
Shares of Airtel on Thursday closed 0.11% higher at Rs 1,649.85 apiece on the National Stock Exchange, compared to a 0.09% decline in the benchmark Nifty 50.
Over the past 12 months, the company's stock has risen by 43.67%.
Thirty out of the 37 analysts tracking the company have a 'buy' rating on the stock, three suggest 'hold,' and two recommend 'sell', according to Bloomberg data. The average of 12-months analysts' price target implies a potential upside of 13.2%.
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