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Broken by an intense tariff war in the telecommunications sector, Bharti Airtel announced a net loss of Rs 9.4 billion in its operations in India during the quarter ended in June. The company headed by Sunil Bharti Mittal, which is expected to be dethroned by Vodafone Idea as the country's largest telecom operator, has announced a net profit of 8.3 billion rupees for India at the same period last year.
of 5.15 billion rupees, telco announced consolidated net profit of 970 million rupees for the June quarter. Without this gain, Airtel reported a net loss on a consolidated basis. The exceptional gain mainly relates to the creation of deferred tax badets in Nigeria. This was partially offset by the network redesign program and business combination costs incurred during the quarter. Consolidated net profit declined 73.5 percent for the reporting period to Rs. 970 million from Rs. 3.67 billion last year.
Total revenue also fell 8.6 percent to 200 billion rupees for the June 2018 quarter from 219 billion last year. At the end of June, the net debt amounted to 1.02 trillion rupees. The incumbents argued that Reliance Jio's "predatory pricing" was responsible for the collapse of their margins.
The high-decibel tariff war is not expected to end soon as Jio continues to disrupt the market. Jio, owner of Mukesh Ambani, has reached a customer base of 200 million euros within two years of starting his business operations, which has allowed the company to break through the fastest. and Chief Executive Officer, India and South Asia, Airtel. On an upbeat note, he said that the company's mobile data traffic jumped 355 percent in India year-over-year, thanks to bundled deals, content partnerships, and successful handset upgrade plans. . Jio and Bharti Airtel resign
"The first quarter of fiscal year 19 saw our highest quarterly expenditure of 78.87 billion rupees.Our investments resulted in some opex winds during this quarter, but we remain focused on controlling structural costs through our waste war agenda, "said Vittal.) in India, a key measure to evaluate the profitability of any telecom operator, declined to Rs 105 per month The ARPU for the March quarter was Rs 116. During the last quarter, Airtel completed the acquisition of Telenor, bringing its customer base in the country to $ 344 million. Consolidated EBIT fell to 34% in the last quarter, up from 35.6% in the corresponding quarter of last year .The consolidated EBIT also fell 43.8% year-over-year to 16%. , 80 billion rupees.
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The company had made some accounting changes by reporting figures for the June quarter. "As of April 1, 2018, the group has shifted the reporting of its strategic joint venture / badociate investments to other segments of Africa / India, South Asia. have been restated to make such sectoral changes comparable, "said Airtel.
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