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Bharti Airtel Q3 profit plunges 41% to Rs 1,303 crore
Telecom giant Bharti Airtel on Wednesday posted a 40.62 per cent dip in third quarter net income to Rs 1,303.3 crore (Rs 13.033 billion), hurt primarily by an increase in spectrum charges and one-time costs related to its brand relaunch.
The company had registered a net income of Rs 2,194.9 crore (Rs 21.949 billion) in the October-December quarter of the previous fiscal.
Total revenues of the company, however, were up by 51.14 per cent at Rs 15,576 crore (Rs 155.76 billion) in the December quarter, compared to Rs 10,305.3 crore (Rs 103.053 billion) in the year-ago period.
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Bharti Airtel Q3 profit plunges 41% to Rs 1,303 crore
On a year-on-year basis, the company's income before taxes dropped on account of an increase in spectrum charges in India (Rs 80 crore) and an increase in net interest outgo (Rs 471 crore), apart from the one-time brand relaunch cost and forex losses, the company said.
On a quarter-on-quarter basis, Bharti Airtel's income before taxes was impacted by the one-time brand relaunch cost of Rs 340 crore (Rs 3.40 billion).
In addition, adverse foreign currency fluctuation in Africa and India resulted in an exchange loss of Rs 151 crore (Rs 1.51 billion) for the company in the third quarter of the 2011 fiscal, it added.
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Bharti Airtel Q3 profit plunges 41% to Rs 1,303 crore
The company's average revenue per person (ARPU) stood at Rs 198 in the December quarter, compared to Rs 202 in the September quarter.
Shares of Bharti Airtel moved up by 3.52 per cent to an early high of Rs 325.70 on the Bombay Stock Exchange on Wednesday.