Bharti Airtel Q2 net profit tanks 65.4% to Rs 119 crore

Revenue fell about 6.2 percent to 204.23 billion rupees, the New Delhi-based company said.

Bharti Airtel Q2 net profit tanks 65.4% to Rs 119 crore

New Delhi: Telecom operator Bharti Airtel on Thursday reported a 65.4 percent drop in consolidated net profit at Rs 119 crore for the second quarter ended September 2018.

Its net profit stood at Rs 343 crore in the same period of the previous year, according to a company statement.

Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 percent lower than Rs 21,777 crore notched in the year-ago period.

Its India revenues fell 3.6 percent year-on-year while the Africa revenues rose 10.8 percent.

"India revenues for Q2'19 at Rs 14,920 crore have declined by 3.6 percent year on year (declined 10.9 percent on reported basis) on an underlying basis. Mobile revenues have witnessed a year on year de-growth of 7.2 percent on an underlying basis led by continued average revenue per user down-trading impacted by competitive pricing pressures," the statement said.

Gopal Vittal, MD and CEO (India & South Asia), Bharti Airtel, said the average revenue per user (ARPU) decline has "moderated" this quarter driven by focus on quality customers through simplified pricing and content partnerships.

"We remain focused on driving quality base growth with value adding propositions for our customers. We also remain committed to investing in enhanced capacities and have deployed 27000+ broadband sites during the quarter, enabling a 239 percent YoY growth in mobile data volumes," Vittal added.