Quick Answer: Is Airtel In Debt?

Is Airtel debt free?

Bharti Telecom, the promoter of Bharti Airtel, is set to raise $1 billion through a block deal on Tuesday to become debt free.

Informed sources said that the firm is looking to sell 2.75 per cent in the telco at a floor price of Rs 558 per share.

The share had settled at Rs 593..

Is Jio is in profit or loss?

NEW DELHI : Reliance Jio Infocomm Ltd, India’s largest and only profitable telecom operator, reported a 62.5% year-on-year rise in net profit to ₹1,350 crore for the December quarter, on the back of its move from free voice calling to imposing user charges for calls made to other operators.

Which country has Airtel?

The countries covered by Airtel’s One Network services are: Kenya, Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Ghana, Madagascar, Malawi, Niger, Nigeria, Rwanda, Seychelles, Sierra Leone, Tanzania, Uganda, Zambia, India, Bangladesh and Sri Lanka.

Who is the Honour of Airtel?

It offers its telecom services under the airtel brand, and is headed by Sunil Bharti Mittal.

Which country owns Airtel?

Airtel Networks LimitedTypeSubsidiaryArea servedNigeriaKey peopleSegun Ogunsanya Managing Director/Chief Executive OfficeProductsMobile Telephony Broadband Internet servicesParentAirtel Africa3 more rows

Which is faster Jio or Airtel?

The report states that Jio’s speed was almost three times higher than its rival Bharti Airtel. … Its data speed was 6 Mbps, followed by Idea with 5.6 Mbps, Airtel 3.8 Mbps and Reliance Jio 3.8 Mbps.

Who is richest Tata or Reliance?

Due to the fact that Mukesh Ambani holds over 45% of Reliance industries, which is the second largest company in India, he is, therefore, the richest person in India, boasting a net worth of $40 billion as of 2018. Ratan Tata’s net worth is estimated to be around $1 billion.

Who is richer Tata or Ambani?

11 lakh crore. However, out of this, Ratan Tata’s personal stake is at less than 1%. Thus we see that the Tata Group is bigger than Reliance Industries. However, Mukesh Ambani is richer than Ratan Tata.

How much money has Jio invested?

Now Google is the latest company that has invested around $4.5 billion for the 7.73% stake in the Reliance Jio. So far the RIL has now raised $20.2 billion (Rs. 1,52,056 crores) in total from some of the world’s leading tech investors….Hemant Singh.InvestorStake (%)Investment (MN $)12. Google7.73$4.5 billion11 more rows•Jul 16, 2020

Is Airtel a loss?

New Delhi: Bharti Airtel reported a consolidated net loss of Rs15,933 crore in the June quarter, its fifth in succession, mainly due to one-time expenses related to its adjusted gross revenue (AGR) dues. … The company posted a net loss of Rs2,866 crore a year ago.

Why Airtel Bharti is falling?

Bharti Airtel has been in good form during the Covid-19 phase of the market. Prices have sought out new highs and are consolidating those gains. More recently, the stock went down with a gap on May 22 and since then prices have been unable to close the gap to make room for an assault higher.

How much debt is Jio?

Reliance Jio’s net debt has fallen to ₹21,900 crore from its peak of ₹2.17 lakh crore, with global investors pumping funds over the last six weeks, for equity stake in its parent Jio Platforms Ltd., which is a wholly owned subsidiary of Reliance Industries Limited.

How much is Reliance Industries debt?

RIL has Rs 1.33 lakh crore cash in hand and, as noted above, a net debt of Rs 1.54 lakh crore. RIL’s total liabilities, as disclosed in its annual report, include debt, higher crude payables, customer advances, capital expenditure creditors and spectrum payouts.

Why Jio is selling its shares?

“These divestments are credit positive because proceeds from sales of the stakes will be used for debt reduction and bring the company closer to its target of reducing its net debt to zero by March 2021,” Moody’s said. All the transactions are currently underway and subject to regulatory and other approvals.

Is Jio profitable now?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.

Is RIL debt free?

Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days.

Who is the father of Airtel?

Sunil Bharti MittalBharti Airtel/Founders

What is net debt free?

So, when a business says it is net debt-free, that does not mean it has repaid all its borrowings. … For instance, in the case of Reliance Industries, its net debt as on March 2020 was ₹1.61-lakh crore (outstanding debt of ₹3.36-lakh crore minus cash and equivalents of ₹1.75-lakh crore).