LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Bharti Airtel net profit tanks 39% in Q3 to Rs 306 crore

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Jan 18, 2018
09:51 pm
PTI
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

India's largest telecom operator Bharti Airtel today reported a decline in consolidated net profit for the seventh straight quarter to Rs 305.8 crore for the three month period ended December 31, 2017 on account of tariff war in the industry.

The cut in mobile call connection charges from 14 paise to six paise during the quarter added to the financial woes of the telecom giant.

Sunil Bharti Mittal led telecom firm had registered a net profit of Rs 503.6 crore in the same period a year ago.

"Regulatory fiat in the form of a cut in domestic IUC (Interconnection Usage Charges) rates has exacerbated the industry ARPU (Average Revenue Per User) decline in Q3'18," Gopal Vittal, MD and CEO, India and South Asia, Bharti Airtel said in a statement.

The company - which competes with the operators like Vodafone, Idea Cellular and newcomer Reliance Jio in the highly-competitive telecom market in India - saw its overall revenue declining by 13 per cent to Rs 20,319 crore in the third quarter as compared to Rs 23,336 crore in the corresponding period last fiscal.

Established operators like Bharti Airtel, Vodafone and Idea Cellular are in the midst of a bruising tariff war after the entry of Reliance Jio backed by India's richest business Mukesh Ambani.

Reliance Jio's free voice and dirt cheap data offerings have dented the financial metrics of incumbent operators.

The company registered six times growth in data usage at 1.1 lakh crore megabyte (MB) in the third quarter of the current fiscal from 17,200 crore MB in the same period previous year, and witnessed a record growth of 49.8 per cent in network minutes at 49,450 crore on year-on-year basis.

Still, Bharti Airtel's India revenue, which accounts for over 75 per cent of the total business, declined by 15 per cent to Rs 15,294 crore in the the period under review from Rs 18,012.6 crore.

The average revenue per user (ARPU) of Bharti Airtel in India declined by 28.6 per cent to Rs 123 in the quarter from Rs 172 in the year-ago period.

On the other hand, the Africa revenues were up 5.3 per cent in over the same quarter previous fiscal in constant currency terms.

However, in terms of Indian rupees, the Africa revenue declined by around 4 per cent to Rs 5,129.3 crore from 5,355.9 crore on year-on-year basis.

The company s consolidated net debt rose to Rs 91,714 crore as against Rs 91,480 crore in the previous quarter.

Bharti Airtel invested Rs 6,465.7 crore in October- December 2017 period and installed around 32,000 mobile broadband sites in India.

"The company's Board has declared an interim dividend of Rs 2.84 per share, which is a complete pass through of dividend received from subsidiaries," the statement added.

Bharti scrip closed 1.17 per cent lower at Rs 494.50 apiece on the BSE today.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

UPSC Prelims notification 2021 released: Exam to be held on June 27—check details

7th Pay Commission latest news: REVEALED! Salary may be affected by New Wage Code - know details

Bank strike in March? Canara Bank says banking services may get affected later this month

Singer Shreya Ghoshal, husband Shiladitya expecting first child; share baby name with fans

Wipro to buy UK-based consultancy Capco for $1.45 billion

Sensex, Nifty drop over 1 pc amid global equity retreat

Download NID Admit Card, Admission Letter 2021 released for B.Des. & M.Des. DAT Prelims Exam

SBI Cards I Credit Suisse initiates outperform rating with price target of Rs 1250

Xiaomi Redmi Note 10, Redmi Note 10 Pro, Redmi Note 10 Pro Max launched in India | Check Price, Specs, Massive Camera and more

Planning to apply for driving licence online? Big convenience! No need to visit RTO office anymore - Here is why

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved