Bharti Airtel Overcame Tough Situations to Become a Stable Organisation, Says Chairman

Bharti Airtel’s Chairman Sunil Mittal in a statement on Tuesday said that the company has fought tough battles and has emerged victorious as a ‘very stable organisation.’ The chairman was talking about the challenges faced by the telecom industry in the last five years because of the dipping revenues and surging debt. The top executive of the company was speaking at the All-India Management Association (AIMA) where he also stated that the first significant inflection point in his life came with the first mobile licence in 1992 against very stiff odds.

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The Challenges Faced By Telecom Industry

According to a report from PTI, Mittal stated that neither his professional will send him anything that could jeopardise the company’s governance nor would he ask anything of them that could compromise the governance. He talked about the industry’s revenue collapsing in the last five years and the expenses being very high. Mittal informed that every year the industry had to spend about $3 billion to $4 billion which is more than Rs 20,000 crore and this is the figure just for India.

The chairman informed that Airtel has raised significant capital which was actually the need of the hour. Talking about the telecom industry’s struggle he said that the industry has raised over $ 18 billion in the last 30 months. He stated that the company had to ensure the availability of money to continue investing in these challenging times which required heavy dilution and selling off some assets. He said that Airtel managed to stay on the course despite facing some tough challenges as the company always focused on its long-term goals.