Telecom operator Bharti Airtel on Thursday, January 31, 2019, reported a 72% drop in consolidated net income for the three months ended December 2018 at about ₹86 crore amid market turbulence triggered by cut-throat competition.
The net income stood at ₹306 crore in the same period of the previous year. Total revenue for the December 2018 quarter stood at ₹20,519 crore, just 1% higher than the ₹20,319 crore in the corresponding period of the previous year.
“India revenues for Q3’19 at ₹14,768 crore have declined by 2.3% year on year (declined 3.5% on reported) on an underlying basis. Mobile revenues have witnessed a year on year de-growth of 4% on an underlying basis primarily on account of the sustained pricing pressure in India Mobile segment,” Airtel said in a statement.
The loss from India operations (before exceptional items) stood at ₹971.9 crore, compared to a net income of ₹373.5 crore in the year ago period.
The company said its Africa revenues grew by 11.2% led by strong growth in data and Airtel money transaction value.
“Our simplified product portfolio and premium content partnerships have played out well during the quarter, translating into one of our highest ever 4G customers additions of 11 million plus...We have deployed 24,000 broadband sites during the quarter and remain committed to invest in capacities ahead of the demand curve and provide a superior customer experience,” said Gopal Vittal, MD and CEO (India and South Asia), Bharti Airtel.
“Effective this quarter, we have modified our customer base measurement to represent only transacting and revenue generating customers,” he added.
