Bharti Airtel posts a loss of Rs. 23,045 crore in September Quarter

Bharti Airtel posts a loss of Rs. 23,045 crore in September Quarter

Agency News

Bharti Airtel, India's second largest wireless telecom services provider, on Thursday reported a net loss of Rs. 23,044.9 crore for the quarter ended September 30.

The telecom major had reported a net profit Rs. 118.8 crore for the corresponding period a year ago. Shares in Bharti Airtel dropped nearly 5 per cent during the session, ahead of the earnings announcement by the private sector telecom company.

In a regulatory filing, Bharti Airtel said its revenue from operations came in at Rs. 21,131.3 crore in the second quarter of current financial year, up 5 per cent compared with the year-ago period.

The company said it added 8 million 4G customers to its network during the quarter. The telecom company said its consolidated operating profit - or EBITDA (earnings before interest, taxes, depreciation, and amortisation) - rose 40.9 per cent to Rs. 8,936 crore in the July-September period.

Bharti Airtel said its average revenue per user (ARPU) - a key metric of profitability for telecom companies - reduced to Rs. 128 in the September quarter from Rs. 129 in the previous quarter.

"Despite being a seasonally weak quarter, we witnessed positive revenue growth in Q2 on the back of various initiatives aimed at providing superior differential services through our Thanks platform," said Gopal Vittal, managing director and CEO, India & South Asia, Bharti Airtel.