Clipped from: https://economictimes.indiatimes.com/markets/stocks/earnings/bharti-airtel-q3-results-telecom-giant-returns-to-black-reports-net-profit-of-rs-854-cr-revenue-grows-6/articleshow/80668809.cmsSynopsis
The company’s consolidated revenues in the quarter grew 6 per cent quarter-on-quarter to Rs 26,517.8 crore.
MUMBAI: Bharti Airtel today reported a consolidated net profit of Rs 853.6 crore as against a consolidated net loss of Rs 763.2 crore in the previous quarter. The company’s consolidated revenues in the quarter grew 6 per cent quarter-on-quarter to Rs 26,517.8 crore.
Bharti Airtel was expected to report consolidated net profit of Rs 222 crore and consolidated revenues of Rs 26,387 crore.
The company’s consolidated operating profit for the quarter stood at Rs 12,178 crore, while its consolidated operating margin came in at 45.9 per cent. Even though the operating profit was above analysts’ expectations, the company’s margins were below estimates.
During the quarter, Airtel reported a one-time loss of Rs 4,559.9 crore likely related to reassessment of some contractual and regulatory levies and network asset impairment.
The company’s average revenue per user in the quarter came in at Rs 166, which was higher than analysts’ estimates, as compared to Rs 162 in the previous quarter.
The country’s second-largest telecom operator net added 12.9 million 4G subscribers during the quarter to take its tally of 4G subscribers to 165.6 million. Bharti Airtel’s overall India subscriber base stood at 336 million at the end of the December quarter.
“Despite the unprecedented volatility that we have confronted through the year, we delivered another strong performance this quarter. This consistency in performance was across every part of our portfolio, as reflected in the market share growth across all our business segments,” said Gopal Vittal, managing director and chief executive officer of India and South Asia.