Bharti Airtel, India's second-largest telecom operator announced that it has prepaid Rs 8465 crores to the Department of Telecommunications (DoT) for spectrum acquired in 2016. The telco said that this particular liability carried an interest rate of 9.3%. This is a great move for Airtel as it will be able to save a significant amount of money in interest payments. This move also signifies the strong cashflow position of Bharti Airtel.
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The telco previously announced that it would lower the capex levels starting FY25 and with that, its cashflow was set to improve. Airtel is taking advantage of its strong financial position and prepaying debt to save costs on interest payments. Bharti Airtel has done this many times previously and this is a sign of robust financials and a growing business.
