Bharti Airtel Q3 net declines 22%; shares plunges

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Bharti Airtel Q3 net declines 22%; shares plunges
Bharti Airtel: Quotes, News
BSE 306.50BSE Quote2.9 (0.95%)
NSE 306.65NSE Quote3.1 (1.01%)
Bharti Airtel, largest telecom company reported net profit decline of 22% at Rs 1,011 crore for this quarter ending December 31.

The income before taxes increased by 2.0% to Rs 1,581 crore after accounting for the impact of 3G license fee amortization and higher interest costs. However, higher tax provisions have impacted the net income, company said in the statement.

However, the company’s total revenues rose to Rs. 18,477 crore in the October-December quarter from Rs. 15,772 crore last year, registering a growth of 17%.

Overall customer base stood at 243 million, across 19 countries. Sales of the company grew 7% to Rs 18477 crore boosted by better realization rates.

Consolidated EBDITA stood at Rs 5,958 Crore up by 19.0% year-on-year and margins improved to 32.2%.

“I am pleased that investments in branding and networks continue to be our focus in India, as we enhance customer experience for voice quality and cater to the ever increasing demand for data. These investments are resulting in healthy growth of Mobile revenues. Customer milestone and are now one of the fastest growing telecom companies in the continent,” Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal said.

Shares of the company on BSE plunged and was at Rs 359.55 down by 19.40 points or 5.12% at 11.00 am IST.

Read more about: bharti airtel, revenue, results, bse
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