Bharti Airtel Q2 net profit at Rs. 343 crore

Bharti Airtel Q2 net profit at Rs. 343 crore

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Bharti Airtel Limited announced its audited consolidated Ind-AS results for the second quarter ended September 30, 2017.

The consolidated revenues for Q2’18 at Rs. 21,777 crore, Y-o-Y drop of 10.4% (reported drop of 11.7%) on an underlying basis (viz. adjusted for Africa / Bangladesh divested operating units and tower assets sale).

Net Income for the quarter at Rs 343 crore (Q1’18: Rs 367 crore) vs Rs 1,461 crore in the corresponding quarter last year.

Consolidated mobile data traffic at 853 Mn MBs in the quarter has registered a robust Y-o-Y growth of 293.8% on an underlying basis.

India revenues for Q2’18 at Rs 16,728 crore have declined by 13.0% Y-o-Y primarily led by mobile drop of 16.8% Y-o-Y. Mobile market continues to experience value erosion and financial stress led by competitive pressures.

Mobile data traffic has grown fourfold to 784 Bn MBs in the quarter as compared to 178 Bn MBs in the corresponding quarter last year. Mobile broadband customers increased by 33.6% to 55.2 Mn from 41.3 Mn in the corresponding quarter last year.

Gopal Vittal, MD and CEO, India & South Asia, said:
“The financial stress in the industry continues due to double digit revenue decline and will be further accentuated by the reduction in IUC rates in the next quarter. This will eventually force operator consolidation and exits as we have witnessed in the recent past. Airtel remains committed to its goal of increasing revenue market share in this competitive environment by providing superior customer experience and strategically investing behind building more data capacities.”