Bharti Airtel Ltd. had its goods and services tax demand of Rs 604.66 crore rectified to Rs 194 crore after filing an appeal to the Commissioner (Appeals) of the Central Goods and Service Tax Appellate Authority in Delhi, according to an exchange filing on the BSE.
The demand was officially filed by the Additional Commissioner, Adjudication of Central Goods and Service Tax in Delhi under the reverse charge mechanism on license fees and spectrum usage charges.
The demand was based on a notice issued by the Department of Telecommunications.
"Bharti Airtel Ltd. reported a 128% quarter-on-quarter advance in net profit for the first quarter of fiscal 2025, beating analysts' estimates," NDTV Profit reported.
This advance was above the Rs 3,661.4-crore estimate by analysts tracked by Bloomberg.
Shares of Bharti Airtel ended over 1.6% to close at 1,486.35 apiece, according to NSE data. This compares to a 0.17% rise in the NSE Nifty 50.
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