Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Bharti Airtel Q1 Net Income Plunges 73% To Rs 97 Crore

Consolidated income of the Sunil Bharti Mittal-led firm declined by 8.6 per cent to Rs 20,080 crore for the first quarter of this fiscal from Rs 21,958 crore in corresponding period of 2017-18

Photo Credit :

1490728654_cWnsSY_1481181539_hsfykG_airtel_PR-870.jpg

Continuing to bleed for the ninth straight quarter, telecom major Bharti Airtel today reported a 73.5 per cent drop in net income at Rs 97 crore for the three months to June due to intense competition in the mobile services market.


The company had registered a net profit of Rs 367 crore in the same period a year ago.


Consolidated income of the Sunil Bharti Mittal-led firm declined by 8.6 per cent to Rs 20,080 crore for the first quarter of this fiscal from Rs 21,958 crore in corresponding period of 2017-18.


"Industry pricing continues to remain untenable. However, led by our successful bundles, content partnerships and handset upgrade programs, our mobile data traffic surged 355 per cent on a YoY basis," the company's MD and CEO (India and South Asia) Gopal Vittal said in a statement.


India revenues during April-June 2018 period declined by 7 per cent on year-on-year basis to Rs 14,930 crore, the company said. 


ABM

Disclaimer: This story has not been edited by BW staff and is auto-generated from a syndicated feed.


Tags assigned to this article:
bharti airtel company results
sentifi.com

Top themes and market attention on: