Airtel 2012 Annual Report Download - page 183

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181
BHARTI AIRTEL ANNUAL REPORT 2011-12
Particulars Notes Year ended Year ended
March 31, 2012 March 31, 2011
Salaries, allowances & others 31,657 29,230
Defined contribution plan 1,667 797
Defined benefit plan/other long term benefits 846 1,196
Share based compensation 8.2 989 1,561
35,159 32,784
8.1 Employee costs
g) Disposal of controlling interest in Aero Ventures Limited, Mauritius
On July 08, 2011, Aero Ventures Limited, Mauritius (‘AVL’) was incorporated as a wholly owned subsidiary of Network i2i
Limited, a wholly owned subsidiary of the Company. The consideration for the issue of shares was satisfied through transfer
of pre-delivery payment of USD 30.21 Mn, conversion of interest receivable of USD 0.12 Mn and payment of USD 19.64 Mn
in cash.
On March 20, 2012, the entire holding in AVL was sold for ` 2,543 Mn (USD 50.60 Mn) resulting in gain of ` 13 Mn (USD 0.27
Mn), (net of transaction costs of ` 25 Mn (USD 0.49 Mn)), that has been recognised in the income statement. AVL has not
started the commercial operations till the date of sale.
AVL had a capital advance of ` 2,505 Mn (USD 49.84 Mn) and cash and cash equivalents of ` 18 thousands (USD 0.36
thousands) on the date of disposal.
8. OPERATING EXPENSES
Particulars Notes Year ended Year ended
March 31, 2012 March 31, 2011
Access charges 97,361 74,718
Licence fees, revenue share and spectrum charges 61,099 52,600
Network operations cost 157,598 127,163
Employee costs 8.1 35,159 32,784
Selling, general and adminstrative expenses 126,310 107,743
Charity & donations 408 292
477,935 395,300
Selling, general and administrative expenses include followings:
Particulars Year ended Year ended
March 31, 2012 March 31, 2011
Trading inventory consumption 9,389 8,169
Dimunition in value of inventory 584 342
Provision for doubtful debts 3,863 2,613
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