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Bharti Airtel Limited
Repistered Office: Bhar! Crescent, 1, Nelson Mandola Road, Vasant Kunj, Phas
‘cin: L748990L1998PLCO70609
T: 691-141-4668 6100, F: 81-11-4186 6137, Emall id: compllance.officer@bhartLin
‘Statement of Audited Standalone Financial Results forthe quarter and nine months ended December 31, 2018,
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(nis space has been intentionally lf blank)‘Audited Standalone Segment-wise Revenue, Results, Assets and Llabilties for the quarter and nine months ended
December 31, 2018
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(This space has been intentionally lft blank)[Notes to the Audited Standalone Financial Results
1. The financial results for the quarter and rine months ended December 31, 2018 have been reviewed by the Aud
‘Commitee and approved bythe Board of Directors in ther respective meetings held on January 31, 2018
2. The financial results ace extracted fom the Audted Interim Condensed Standalone Financial Statements which are
Prepared in accordance with Indan Accounting Standards (Ind AS’) as prescrbed under
‘section 183 ofthe Comparies Act, 2013 read with relevant res issued thereunder.
3. Exceptional tems during the quarter ended December 31, 2018 comprises of () charge of Re. 1,112 Mn towards
‘operating costs on network re-farming and up-gradation program; and (ji) credt of Re. 12823 Mn due to
re-assessment of levies. Net tax charge onthe above is RS. 4022 Mn.
4. On Janvary 8, 2013, the Department of Tetecommunicatios (DoT) issued a demand on the Company for Rs.
‘51,383 Mn towards lovy ef onetime spectrum charge, which was further revised on June 27, 2018 to Rs. 79,403 Mn.
‘Based on a petiicn fled by the Company, the Hon'ble High Court of Bombay, through ts order dated January 28,
2013, has directed DoT to respond and not to take any coercive action until the next date of hearing. The Company,
bbased on independent gal oprions, til date has not ven any etfectto the above demand,
For Bhatt Airtel Limited
Gopal Vital
Managing Director and CEO (India & South Asia)
DIN: 02281778
New Deli
January 31,2019
Notes:
_3)'Bharb Ait of ‘Company’ stands for Bhart Airtel Limited
For more deal onthe fnancal resus, please vst cur webste ‘www ate inChaar Aecountants
‘nfloor, Buldng 1, Tower 8
Haskins & Sells LLP
Hanna nda
“e491 1266792000
Facer 1248792012
INDEPENDENT AUDITOR'S REPORT ON AUDIT OF INTERIM FINANCIAL RESULTS
‘TO THE BOARD OF DIRECTORS OF
BHARTI AIRTEL LIMITED
1. We have audited the accompanying Statement of Consolidated Financial Results of
Bharti Airtel Limited ("the Company”) and its subsidiaries (the Company and its
subsidiaries together referred to as “the Group"), and its share of the profit/(loss) of.
its associates and joint ventures for the quarter and nine months ended December 31,
2018 ("the Statement”), being submitted by the Company pursuant to the requirement
of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5,
2016.
This Statement, which is the responsibility of the Company's Management and
approved by the Board of Directors, has been compiled from the related Interim
Condensed Consolidated Financial Statements which has been prepared in accordance
with the recognition and measurement principles laid down in Indian Accounting
Standard 3¢ “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133
of the Companies Act, 2013, read with relevant rules issued thereunder and other
accounting principles generally accepted in India. Our responsibility is to express an
opinion on the Statement based on our audit of such Interim Condensed Consolidated
Financial Statements.
2. We conducted our audit in accordance with the Standards on Auditing issued by the
Institute of Chartered Accountants of India. Those Standards require that we comply
with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the Statement is free from material misstatement.
‘An audit involves performing procedures to obtain audit evidence about the amounts
and the disclosures in the Statement. The procedures selected depend on the auditor's,
judgment, including the assessment of the risks of material misstatement of the
‘Statement, whether due to fraud or error. In making those risk assessments, the
auditor considers internal control relevant to the Company's preparation and fair
presentation of the Statement in order to design audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Company's internal control. An audit also includes evaluating the
appropriateness of the accounting policies used and the reasonableness of the
accounting estimates made by the Management, as well as evaluating the overall
presentation of the Statement.
We believe that the audit evidence obtained by us and the audit evidence obtained
by other auditor in terms of their report referred to in paragraph 5 below, Is
sufficient and appropriate to provide a basis for our audit opinion.
” b
Regd Office: Indiabulls France Centre, Tower 3, 7th - 22nd oor, Senapat Bapat Marg, Elphinstone Road (W), Mumba - 400 013, Ind
(UP identification No, AAB-8737)Deloitte
Haskins & Sells LLP
ew
a. Includes the results of the following entities:
1] Bharti Airtel Limited
‘Subsidiaries
2 | Bharti Infratel Limited 36__| Bharti Airtel Niger Holdings B.V.
3 | Bharti Hexacom Limited 37 | Bhartt airtel Nigeria 8.V.
4__| Bharti Telemedia Limited 38___| Bharti Airtel Nigeria Holdings 11 B.V.
5 | Telesonic Networks Limited 39 | Bharti airtel ROC Hoidings 8.V.
6 | Bharti Airtel Services Limited 40 | Bharti Airtel Services B.V.
7___| Wxtra Data Limited 41_| Bharti Airtel Tanzania B.V.
‘| Wynk Limited 42 | Bharti Airtel Uganda Holdings 8.V.
9 [Nettle Infrastructure Investments | 43 | Bharti Airtel Zambia Holdings 8.
Limited
40 | Indo Teleports Limited 44 | Bharti Airtel Africa B.V.
11_| SmarTx Services Limited 45 _ | Celtel (Mauritius) Holdings Limited
42 | Bharti Digital Networks Private Limited |45 | Channel Sea Management Co
(formerly known as Tikona Digital (Mauritius) Limited
Networks Private Limited) Z| 2 -
| 13 _| Bharti Airtel Employees Welfare Trust| 47 | Montana International -
14 | Bharti airtel (UK) Limited 48 | Société Malgache de Telephonie
Cellulaire SA
45 | Bharti International (Singapore) Pte Ltd |49 | Bharti Airtel Rwanda Holdings
Umitea
16 | Network iai Ltd. 50__[ Indian Ocean Telecom Limited
17 | Bharti airtel Lanka (Private) Limited | 1 | Airtel Africa Limited $ —_|
18 | Bharti Airtel (France) SAS 52 | airtel Africa Mauritius Limited $ |
| 19° | Bharti Airtel (USA) Limited 53 [Bharti Airtel_—_ International.
(Mauritius) Investments Limited
20 | Bharti Airtel (Hong Kong) Limited 54 | Bharti Airtel Overseas (Mauritius)
Limited $ -
21 | Bharti Airtel (Japan) Private Limited [55 | Bharti Airtel Holding (Mauritius)
__| Umitea $
22 | Bharti Airtel Intemational (Mauritius) | 56 | Airtel Mobile Commerce Nigeria
“| Limite Bu. $
23 | Bharti Airtel International (Netherlands) | 57 | Airtel Networks Limited
BY.
24 | Africa Towers N.V. 58 | Airtel Mobile Commerce Nigeria
Limited
25__| Airtel Mobile Commerce B.V. 59 | airtel Uganda Limited
26 | Airtel Mobile Commerce Holdings B.V. | 60 | Airtel Mobile Commerce Uganda
Limited
27 | Bharti Airtel Burkina Faso Holdings|61 | Airtel Tanzania Public Limited
BVA Company(Formerly known as Airtel
‘Tanzania Limited)
28 | Bharti Airtel Chad Holdings B.V. 62 | Airtel Mobile Commerce Tanzania
29__| Bharti Airtel Congo Holdings B.V. 63 ania Towers Limited
30__| Bha | 64__[ Airtel Money Tanzania Limited
31 | Bharti Airtel Kenya B.V. 65__| Airtel Networks Zambia Pic
32 | Bharti Airtel Kenya Holdings B.V. 66 [Airtel Mobile Commerce Zambia
Limited
'33_| Bharti Airtel Madagascar Holdings B.V. | 67 | Africa Towers Services Limited ~
34 | Bharti Airtel Malawi Hoidings 8.V. 68__| Airtel Money Transfer Ltd
'35__| Bharti Airtel Mali Holdings B.V. 69 | Airtel Networks Kenya Limited @Deloitte
Haskins & Sells LLP
70 | Bharti Airtel Developers Forum Limited | 83 _ | Partnership Investments SARL
71_| Airtel Mobile Commerce Kenya Limited | 84 | Airtel Congo S.A.
[72 | Airtel Malawi Limited 85 | Mobile Commerce Congo S.A.
73_ | Malawi Towers Limited 85 | Airtel Gabon S.A.
74 | Airtel Mobile Commerce Limited, Malawi | 87 _| Airtel Money S.A. (Gabon) _
75 _| Airtel Rwanda Limited _| 88 | Gabon Towers S.A.
[76 | Airtel Mobile Commerce Rwanda Limited | 89 _ | Airtel Money Niger S.A.
77 | Tigo Rwanda Limited # 90. | Celtel Niger S.A.
78 Airtel (Seychelles) Limited 1 Airtel Mobile Commerce Tchad
SARL
79 Airtel Mobile Commerce (Seychelles) | 92 Airtel Tchad S.A.
Limited —_ ee
80 _| Airtel Congo (RDC) 5.A (93. | Airtel Madagascar S.A.
81 Airtel Money (RDC) S.A. 94 Madagascar Towers S.A.
82 | Congo ROC Towers S.A. 95 [Airtel Mobile Commerce
Madagascar S.A.
| Joint Ventures and Associates
(including their subsidiaries) a
96 [Indus Towers Limited 103_| Airtel Ghana Limited
97 | FireFly Networks Li 104 | Airtel Mobile Commerce Ghana
- Se | Limited
98 | Seynse Technologies Private Limited | 105 | Mobile Financial Services Limited
a2. Juggernaut Books Private Limited |.106__| Millicom Ghana Company Limited
100 _| Airtel Payments Bank Limited ## 107 | Bharti Airtel Ghana Holdings B.V.
101 | Robi Axiata Limited 108 | Seychelles Cable Systems
fn __| Company Limited _ __|
.02_| Bridge Mobile Pte Limited
@ The Group also holds 100% preference shareholding in these companies. The preference shares do not carry
any voting rights
* Under
dissolution
* Dissolved during the nine months period ended December 31, 2018
4 Acquired / incorporated during the nine months period ended December 31, 2018
2 Merged with Airtel Rwanda Limited during the nine months period ended December 31, 2018
#2 Effective 25 October 2018, the company has become an associate and ceased to be the subsidiary of the
Company.
b.
at
is presented in accordance with the requirements of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified
by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016; and
gives a true and fair view in conformity with the aforesaid Indian Accounting
Standards and other accounting principles generally accepted in India of the profit,
total comprehensive income and other financial information of the Group, its
associates and joint ventures for the quarter ended December 31, 2018 and the
profit, total comprehensive loss and other financial information of the Group, its
associates and joint ventures for the nine months ended December 31, 2018.
4. We draw attention to Note 6 of the Statement, which describes the uncertainties related
to the legal outcome of Department of Telecommunications demand with respect to one
time spectrum charges. Our opinion is not modified in respect of this matter. tDeloitte
Haskins & Sells LLP
5. The consolidated financial results includes the Group's share of profit of € 2,010 Million
and % 6,309 Million and total comprehensive income of ® 2,009 Million and ® 6,306
Million for the quarter and nine month period ended December 31, 2018 respectively,
as considered in the consolidated financial results in respect of Indus Towers Limited
Goint venture) whose interim financial statements have not been audited by us. These
interim financial statements have been audited by other auditor whose report has
been furnished to us by the management and our opinion on the Statement, in so far
as it relates to the amounts and disclosures included in respect of this joint venture
is based solely on the report of the other auditor.
Our opinion on the Statement is not modified in respect of the above matter with respect,
to our reliance on the work done and the report of the other auditor,
wy
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
(Firm’s Registration No. 117366W/W-100018)
Guedw
‘Shyamak R Tata
Partner
(Membership No. 38320)
Place: New Delhi
Date: January 31, 2019Deloitte Ba gaccnyeamper
Haskins & Sells LLP weer siba
Teh91 1246792000
Foe 191 t20g7o 2012
INDEPENDENT AUDITOR'S REPORT ON AUDIT OF INTERIM FINANCIAL RESULTS
‘TO THE BOARD OF DIRECTORS OF
BHARTI AIRTEL LIMITED
4. We have audited the accompanying Statement of Standalone Financial Results of Bharti
Airtel Limited (‘the Company”) for the quarter and nine months ended December 31,
2018 ("the Statement”), being submitted by the Company pursuant to the requirement
of Regulation 33 of the SEBI (Listing Obligations and Disciosure Requirements)
Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5,
2016.
This Statement, which is the responsibility of the Company's Management and approved
by the Board of Directors, has been compiled from the related Interim Condensed
Standalone Financial Statements which has been prepared in accordance with the
recognition and measurement principles laid down in Indian Accounting Standard 34
“Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the
Companies Act, 2013, read with relevant rules issued thereunder and other accounting
principles generally accepted in India. Our responsibility is to express an opinion on the
‘Statement based on our audit of such Interim Condensed Standalone Financial
Statements.
2. We conducted our audit in accordance with the Standards on Auditing Issued by the
Institute of Chartered Accountants of India. Those Standards require that we comply
with ethical requirements and pian and perform the audit to obtain reasonable assurance
about whether the Statement is free from material misstatement.
‘An audit involves performing procedures to obtain audit evidence about the amounts
{and the disclosures in the Statement. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the
Statement, whether due to fraud or error. In making those risk assessments, the auditor
Considers internal control relevant to the Company's preparation and fair presentation
of the Statement in order to design audit procedures that are appropriate in the
rcumstances, but not for the purpose of expressing an opinion on the effectiveness of
the Company's internal control. An audit also includes evaluating the appropriateness of
the accounting policies used and the reasonableness of the accounting estimates made
by the Management, as well as evaluating the overall presentation of the Statement.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide
1 basis for our audit opinion,
re cS
Regd. Office: indiabuls Finance Centr, Tower 3, 27th - 32nd Foor, Senapati Bapat Marg, Elphinstone Road (W), Mumbai 400 013, India.
(AP identification No, AAB-8737)Deloitte
Haskins & Sells LLP
3. In our opinion and to the best of our information and according to the explanations given
to us, the Statement:
(i) Is presented in accordance with the requirements of Regulation 33 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by
Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016; and
(il) gives a true and fair view in conformity with the aforesaid Indian Accounting
Standards and other accounting principies generally accepted in India of the profit,
total comprehensive income and other financial information of the Company for the
quarter ended December 31, 2018 and the loss, total comprehensive loss and other
financial information of the Company for the nine months ended December 31, 2018.
4. We draw attention to Note 4 of the Statement, which describes the uncertainties related
to the legal outcome of Department of Telecommunications demand with respect to one
time spectrum charges. Our opinion is not modified in respect of this matter.
ww
For DELOITTE HASKINS & SELLS LLP
Chartered Accountants
(Firm's Registration No. 117366W/W-100018)
Gua
Shyamak R Tata
Partner
(Membership No. 38320)
Place: New Delhi
Date : January 31, 2019