Bharti Airtel Q2 net profit drops 29%

Bharti Airtel Q2 net profit drops 29%

Bharti Airtel Q2 net profit drops 29%

 The country’s largest mobile operator Bharti Airtel on Tuesday reported 15th consecutive quarter of fall in profits with a 29 per cent slump in September quarter but a better operating margin brings hopes that the worst may be over for the industry.

Profit dropped to Rs 512 crore in the quarter ended September 30 from Rs 721.2 crore a year earlier, mainly on account of increase in finance costs and forex losses due to rupee depreciation, the company said in a BSE filing.

The margin of earnings before interest, tax, depreciation and amortisation, or EBITDA, was 32 per cent in the quarter compared with 30.6 per cent a year ago.

Consolidated revenue grew 10 per cent to Rs 21,342.8 crore from Rs 19,408.5 crore a year earlier.

Airtel is betting big on data after revenue from the mobile Internet segment doubled to Rs 1,503 crore from a year earlier, accounting for 39.1 per cent of the overall incremental revenue.

Bharti Airtel added about 25 lakh mobile users in the country during the quarter for a total of 19.34 crore subscribers at the end of September.

Monthly churn or attrition of users improved to 3.2 per cent from 8.5 per cent in the same period last year.

International revenue increased 17.9 per cent on a yearly basis in rupee terms, with Africa growing by 16.1 per cent Y-o-Y and South Asia by 54.4 per cent.
The net loss for its African region widened to $105 million from $97 million in the same quarter a year ago.

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