Bharti Airtel Shares in Focus; Faces Penalty from DoT for Verification Norm Violation

Bharti Airtel has received a notice from the Department of Telecommunications, imposing a ₹6.84 lakh penalty for alleged violations of subscriber verification norms during an audit in October 2024.

Penalty Details

On December 21, 2024, Bharti Airtel disclosed that the DoT imposed a penalty of ₹6.84 lakh for violations related to subscriber verification norms, the company said in a press release on the stock exchanges.

The penalty is a result of a sample CAF (Customer Application Form) audit conducted by DoT for the month of October 2024.

The violation pertains to alleged non-compliance with the terms and conditions outlined in the License Agreement. The company has received the penalty notice from DoT on December 20, 2024.

Financial Impact and Next Steps

Bharti Airtel stated that the financial impact is limited to the penalty amount imposed. The company is evaluating the situation and its potential next steps. This penalty is a reminder of the importance of adhering to subscriber verification procedures to maintain compliance with regulatory requirements.

Share Price Performance

Bharti Airtel’s share price traded up 1.31% at ₹1,598.85 at 12:40 PM on the NSE. The stock opened at ₹1,586, higher than ₹1,578 against its previous close. The stock gained today, snapping its five-session losing streak from last week.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.