Bharti Airtel Q4 profit plunges 78% year-on-year to Rs 83 crore

Telecom giant Bharti Airtel’s consolidated net profit plunged 77.79 per cent to Rs 82.90 crore in the March quarter on a yearly basis.The firm had posted a profit of Rs 373.40 crore in the corresponding quarter last year and Rs 305.80 crore in the sequential quarter ended December 31, 2017. Consolidated revenue of the telecom major slipped 10.48 per cent year-on-year to Rs 19,634.30 crore during the quarter under review. It had posted consolidated revenue of Rs 21,934.60 crore in the same quarter last year.Standalone net loss of the company stood at Rs 760.20 crore in Q4FY18 over a net loss of Rs 14,176.20 crore in Q4FY17. Bharti Airtel’s posted a standalone net profit of Rs 64.30 crore in the sequential quarter ended December 31, 2017.India ARPU (average revenue per user) for voice and data combined – a key operational indicator – fell 26.60 per cent on year-on-year basis to Rs 116 during the quarter under review. ARPU had stood at Rs 158 in Q4FY17.Gopal Vittal, MD and CEO, India & South Asia, said: “The telecom industry continues to witness below cost, artificially suppressed pricing. Industry revenues were further adversely impacted this quarter due to the reduction in International termination rates. Airtel continued to consolidate its leadership position this quarter.”

from The Economic Times https://ift.tt/2HqefJ4