Bharti Airtel Profits Decline Although Indian Revenues Stabilising
Consolidated revenues at Rs 20,264 crore grew by 9.2%, over the corresponding period last year, led by 10.9% growth in Indian mobile revenues, 34% in Digital TV, 17.9% in B2B and 37.1% in South Asia.
Reported International revenues comprising of Africa and South Asia operations grew by 4.6% Y-o-Y in local currency terms.
However, the company still posted its 14th consecutive quarter of declining profits. Net profits came in at Rs 689 crore, as against Rs 762 crore in the corresponding quarter last year.
In a statement, Mr. Sunil Bharti Mittal, Chairman, Bharti Airtel, said: “Our results for the quarter reflect the overall stability of our operations, and demonstrate the potential for growth, particularly seeing robust data growth across all geographies. Results for Airtel India reflect rationality returning to the sector which needs to be complemented by a more enabling regulatory environment for a deeper penetration of telecom and broadband services.”
Following the additional equity infusion by Qatar Foundation Endowment and after considering the full debt in the Qualcomm subsidiaries, the consolidated net debt has decreased by $908 million during the quarter to close at US$9.8 billion.