NEW DELHI: India's biggest telecom operator Bharti Airtel on Thursday reported over 39 consistent with cent fall in its consolidated net profit for the third quarter ended December 31, 2017 to about Rs 306 crore.
The corporate's net profit stood at Rs 504 crore in the same period previous fiscal.
The corporate - which competes with the operators like Vodafone, Idea Cellular and newcomer Reliance Jio in the highly-competitive telecom marketplace in India - noticed its general earnings declined 13 consistent with cent to Rs 20,319 crore.
Its earnings used to be pegged at Rs 23,336 crore in the corresponding period final monetary year.
"Regulatory fiat in the form of a cut in domestic IUC (Interconnection Usage Charges) rates has exacerbated the industry ARPU (Average Revenue Per User) decline in Q3'18," Gopal Vittal, MD and CEO, India and South Asia, Bharti Airtel mentioned in a remark.
He added that the recent determination to cut back International termination rates "will further accentuate this decline and benefit foreign operators with no commensurate benefit to customers".
The corporate's general buyer stood at 394.2 million throughout 16 countries, which used to be 9.2 consistent with cent upper over the year-ago period.
"India revenues for Q3'18 at Rs 15,294 crore have declined by 11.3 per cent year on year (15.1% on reported) on an underlying basis, adjusted for the impact in reduction of domestic termination rates," the corporate remark mentioned.
On the other hand, its Africa revenues had been up 5.3 consistent with cent over the same quarter previous fiscal (in consistent foreign money phrases).
The corporate's consolidated net debt rose to Rs 91,714 crore as in opposition to Rs 91,480 crore in the previous quarter.
"The company's Board has declared an interim dividend of Rs 2.84 per share, which is a complete pass through of dividend received from subsidiaries," the remark added.
The effects had been declared after marketplace hours. Bharti scrip closed 1.17 consistent with cent lower at Rs 494.50 a piece at the BSE lately.
The corporate's net profit stood at Rs 504 crore in the same period previous fiscal.
The corporate - which competes with the operators like Vodafone, Idea Cellular and newcomer Reliance Jio in the highly-competitive telecom marketplace in India - noticed its general earnings declined 13 consistent with cent to Rs 20,319 crore.
Its earnings used to be pegged at Rs 23,336 crore in the corresponding period final monetary year.
"Regulatory fiat in the form of a cut in domestic IUC (Interconnection Usage Charges) rates has exacerbated the industry ARPU (Average Revenue Per User) decline in Q3'18," Gopal Vittal, MD and CEO, India and South Asia, Bharti Airtel mentioned in a remark.
He added that the recent determination to cut back International termination rates "will further accentuate this decline and benefit foreign operators with no commensurate benefit to customers".
The corporate's general buyer stood at 394.2 million throughout 16 countries, which used to be 9.2 consistent with cent upper over the year-ago period.
"India revenues for Q3'18 at Rs 15,294 crore have declined by 11.3 per cent year on year (15.1% on reported) on an underlying basis, adjusted for the impact in reduction of domestic termination rates," the corporate remark mentioned.
On the other hand, its Africa revenues had been up 5.3 consistent with cent over the same quarter previous fiscal (in consistent foreign money phrases).
The corporate's consolidated net debt rose to Rs 91,714 crore as in opposition to Rs 91,480 crore in the previous quarter.
"The company's Board has declared an interim dividend of Rs 2.84 per share, which is a complete pass through of dividend received from subsidiaries," the remark added.
The effects had been declared after marketplace hours. Bharti scrip closed 1.17 consistent with cent lower at Rs 494.50 a piece at the BSE lately.
Bharti Airtel Q3 net profit tanks 39% to Rs 306 crore, misses forecasts
![Bharti Airtel Q3 net profit tanks 39% to Rs 306 crore, misses forecasts]()
Reviewed by Kailash
on
January 18, 2018
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