Bharti Airtel has deferred the announcement of its second quarter results (July-September) by almost two weeks till November 14 as it awaits more clarity on the Supreme Court order on adjusted gross revenue (AGR).

While its board of directors were scheduled to meet on Tuesday to consider the results, the company told the stock exchanges before the commencement of trade that the meeting has been postponed till November 14.

The company, however, released its operating highlights for the three months ended September 2019 in a regulatory filing to the BSE.

Revenues from India mobile services rose 7 per cent year-on-year during the September 2019 quarter to Rs 10,981.4 crore, as the subscriber base stood at 279.4 million, according to a regulatory filing by the company.

Its customer base for India mobile services represented a 15 per cent fall over the year-ago period, but seen on a sequential basis, it was 0.9 per cent higher than the June quarter.

The average revenue per user (ARPU) for mobile services — a key metrics for telecom companies — slipped marginally to Rs 128 against Rs 129 in the previous sequential quarter.

The announcement to defer the results led to its shares falling over three per cent on the bourses on Tuesday. On the BSE, the scrip declined 3.41 per cent, or Rs 12.70, to close at Rs 359.95 after falling 5.19 per cent during intra-day trades to Rs 353.30. It was the worst hit among the 30-Sensex companies. Similarly, on the National Stock Exchange , it fell 3.29 per cent to close at Rs 360.80.

In terms of traded volume, 11.40 lakh shares of the company were traded on the BSE and 3.6 crore shares at the NSE.

“The management of the company recommended to the board of directors that the agenda item related to the approval of audited financial results for the second quarter and half year ended September 30, 2019 which was to be a part of the board meeting today be deferred till November 14, 2019 on account of the fact that more clarity is needed on the AGR matter arising out of recent judgment of the Supreme Court,” Bharti said.

“The board of directors, in its meeting held today, has accepted the management's recommendation and deferred the agenda item relating to the approval of the said financial results till November 14.”Bharti Airtel said it was approaching the Department of Telecommunications (DoT) to seek clarity on the total amounts involved and request for their support to deal with the adverse outcome.

The announcement led to its shares falling over three per cent on the bourses on Tuesday. On the BSE, the scrip declined 3.41 per cent, or Rs 12.70, to close at Rs 359.95 after falling 5.19 per cent during intra-day trades to Rs 353.30. It was the worst hit among the 30-Sensex companies. Similarly, on the National Stock Exchange , it fell 3.29 per cent to close at Rs 360.80.

In terms of traded volume, 11.40 lakh shares of the company were traded on the BSE and 3.6 crore shares at the NSE.

While Bharti Airtel did not quantify the amount that it owes to the Government due to the order, reports indicate it to be around Rs 21,682 crore.