Business

Bharti Q2 loss narrows to ₹763 crore

Welcome spike: For Bharti, 4G data users rose 48.1% to 153 million; traffic climbed to 77.3 PB/day from 48.9 PB/day a year earlier.   | Photo Credit: REUTERS

Bharti Airtel on Tuesday reported a net loss of ₹763 crore for the quarter ended September 30 even as it posted its highest-ever consolidated quarterly revenue of ₹25,785 crore driven by a rise in data usage and new 4G users.

The net loss for the second quarter is significantly lower than the net loss of ₹23,045 crore recorded in the July-September 2019 quarter on account of higher provisioning following a Supreme Court order related to adjusted gross revenues (AGR). “Despite being a seasonally weak quarter, we delivered a strong performance with revenue growing at 22% year-on-year,” said Gopal Vittal, MD and CEO, India & South Asia. “Our continued focus on ARPU improvement and cost optimisation led to EBITDA margin expansion by over 158 basis points in the quarter sequentially,” he added. The company said India revenue for the quarter came in at ₹18,747 crore, an increase of 22%, while mobile revenue rose 26%. The ARPU (average revenue per user) increased to ₹162 compared with ₹128 in year-earlier quarter. It added that 4G data customers increased by 48% to 152.7 million, while traffic increased to 77.3 petabytes (PB)/day compared with 48.9 PB/day a year earlier. Meanwhile, the home business segment witnessed a revenue growth of 7.3% with more than 1.29 lakh customers added during the quarter, taking the total base to 25.8 lakh customers.

On the AGR issue, the company said, “The group has represented to DoT that it has already paid more than 10% of the total dues as demanded by the DoT and will ensure ongoing compliance with the Hon’ble Supreme Court’s orders.”

The company also said that its total capital expenditure for the quarter stood at ₹6,791 crore.

This article is closed for comments.
Please Email the Editor

Printable version | Nov 28, 2020 2:23:56 PM | https://www.thehindu.com/business/bharti-q2-loss-narrows-to-763-crore/article32957926.ece

Next Story