Bharti Airtel Q2 net profit falls over 65%

NEW DELHI: Bharti Airtel reported a 65.4 in step with cent fall in quarterly profit on Thursday, as it faces pricing drive amid competitive festival in the country's telecom sector.

The telecom primary posted a profit of Rs 119 crore ($16.25 million) for the quarter ended September 30, when compared with a profit of Rs 343 crore a 12 months ago.

Revenue fell about 6.2 in step with cent to Rs 20,423 crore, the New Delhi-based company said.

Its domestic moderate revenue in step with person (ARPU) all the way through the quarter fell 28.8 in step with cent to Rs 101, whilst Africa ARPU dropped to $3 from $3.2 final 12 months.

Gopal Vittal, managing director and chief executive, India and South Asia, Bharti Airtel, said the common revenue in step with person (ARPU) decline has "moderated" this quarter driven via focal point on quality shoppers via simplified pricing and content partnerships.

Shares of Bharti Airtel plunged nearly 7 in step with cent ahead of announcement of its 2d quarter effects. At NSE, stocks of the telecom primary tumbled 6.28 in step with cent to Rs 296.


Following the sharp fall in the inventory, the company's marketplace valuation got eroded via Rs 8,354.57 crore to Rs 1,18,263.08 crore on BSE.


The inventory was the worst hit a number of the blue chips on both the important thing indices all the way through the day.


The telecom sector has been battered via a price cutting war, induced via the entry of billionaire Mukesh Amabani-owned Reliance Jio Infocomm.


Meanwhile, Idea Cellular Ltd and Vodafone Plc have merged their India operations to create the rustic's greatest telecom operator via subscribers and revenue.
Bharti Airtel Q2 net profit falls over 65% Bharti Airtel Q2 net profit falls over 65% Reviewed by kailash soni on October 25, 2018 Rating: 5
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