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Airtel posts consolidated net profit of Rs 973 million for QE June 2018; Indian revenues dip

July 30, 2018
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Bharti Airtel has posted a consolidated net profit of Rs 973 million during the April-June quarter 2018, primarily on the back of a deferred tax gain of Rs 5.16 billion. This, profit, however, is 74 per cent lower than the net profit of Rs 3.67 billion reported in the quarter ended June 2017. Further, the consolidated revenues have come down by 9 per cent from Rs 219.58 billion during quarter ended June 2017 to Rs 200.08 billion during the corresponding quarter in 2018.

For India and South Asia, the operator reported a net loss (before exceptional items) of Rs 9.8 billion in the quarter under consideration as against a profit of Rs 7.7 billion reported last year during the same quarter. Meanwhile, the revenues have declined by 13 per cent from Rs 173.3 billion to Rs 150.2 billion during the period under consideration.

Performance of Indian business

For Indian operations, Airtel’s earnings before interest and tax (EBIT) declined 79 per cent from Rs 25.3 billion during quarter ended June 2017 to Rs 5.28 billion during the corresponding quarter in 2018. Meanwhile, the revenues have declined by 13 per cent from Rs 172.5 billion to Rs 149.3 billion during the period under consideration. The drop in earnings could be attributed to the tariff war started by Reliance Jio Infocomm Limited (RJIL), higher finance costs and the cut in international termination rates in the quarter ended June, 2018.

On the operational front, Airtel’s data customer base in India grew by 51.5 per cent to reach 94.7 million by end June 2018. Total MBs on the networks have grown by over 350 per cent to reach 2,150.6 billion MBs.

Airtel’s consolidated net debt stood at Rs 1029.02 billion as of June 30, 2018.

 
 
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