Bharti Airtel suffers net loss of Rs 5,237 cr in Q4
By MYBRANDBOOK
Telecom major Bharti Airtel reported a consolidated net loss after exceptional items of Rs 5,237 crore in the fourth quarter ended March 31, as compared to a net profit of Rs 107 crore in the corresponding period last year.
However, consolidated revenues during the quarter grew by 15 per cent year-on-year (YoY) to Rs 23,723 crore, as against Rs. 20,602 crore in the January-March quarter last year.
The company undertook a capex investment of Rs 25,359 crore on a consolidated basis during the year to ensure seamless services during the ongoing pandemic, Airtel said.
“These are unprecedented times for everyone across the world, as we battle the impact of COVID-19 and its consequent impact on livelihoods. Even at this difficult time, it is our investments in network technologies that have allowed us to keep the nation connected and serve our customers," Gopal Vittal, Managing Director and Chief Executive Officer, India & South Asia, said.
The quarter gone by saw healthy revenue growth of 14.4 per cent YoY with mobile business growing at 21.8 per cent, he said, adding that this was driven by two factors - sustained momentum of 4G customer additions of over 12.5 million, coupled with improved tariffs.
"We continue to witness strong data traffic growth of around 74 per cent YoY. It is clear today that telecom has played an essential role in keeping the country going. We are, therefore, hopeful that the government will implement the recommendations of the TRAI and the intent of the New Telecom Policy and bring down the high levels of regulatory levies and taxes that the sector is subjected to," Vittal added.
However, revenues during the year grew by 8.4 per cent at Rs 87,539 as compared with Rs 80,780 crore last year.
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