Devesh
Core Member
Bharti Airtel blamed “predatory pricing” by new entrant - Reliance Jio Infocomm for the nearly 72% on year slump in its fiscal fourth-quarter net profit, with both its voice and data suffering from the price war triggered by the Mukesh Ambani-owned telco’s free services.
India’s No. 1 telco’s net profit of Rs 373 crore for the three months ended March — its smallest in four years —was sharply lower that the average estimate in an ET poll of analysts of about Rs 478 crore. Net profit in the October-December quarter was nearly Rs 504 crore.
Revenue fell over 12% to Rs 21,935 crore from a year earlier as data and voice rates fell.
The fall in rates however arrested the churn of subscribers out of the operator. The telco ended the quarter with almost 356 million customers across India, South Asia and 15 countries in Africa, Bharti Airtel said in a statement Tuesday. In India, which makes up nearly 78% of overall revenue, the company had nearly 274 million mobile subscribers, up 2.9% sequentially.
Bharti Airtel Q4 Results: Bharti Airtel Q4 net profit slumps nearly 72% YoY, Jio free offers hurt; ARPU down at Rs 158 - The Economic Times
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India’s No. 1 telco’s net profit of Rs 373 crore for the three months ended March — its smallest in four years —was sharply lower that the average estimate in an ET poll of analysts of about Rs 478 crore. Net profit in the October-December quarter was nearly Rs 504 crore.
Revenue fell over 12% to Rs 21,935 crore from a year earlier as data and voice rates fell.
The fall in rates however arrested the churn of subscribers out of the operator. The telco ended the quarter with almost 356 million customers across India, South Asia and 15 countries in Africa, Bharti Airtel said in a statement Tuesday. In India, which makes up nearly 78% of overall revenue, the company had nearly 274 million mobile subscribers, up 2.9% sequentially.
Bharti Airtel Q4 Results: Bharti Airtel Q4 net profit slumps nearly 72% YoY, Jio free offers hurt; ARPU down at Rs 158 - The Economic Times
Posted using Entertainment Forum app
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