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Airtel's profits dip by 31% in first quarter of 2016

  • Airtel said that its India revenues for in the reported quarter grew by 10.3 percent
  • Consolidated mobile data revenues grew by 34.1 percent
Airtel Q1 profit dips by 31% to ₹1.46 crore

Telecom major Bharti Airtel today reported a 31 percent decline in consolidated net profits at Rs 1,462 crore for the first quarter of 2016-17, mainly due to high capital expenditure during the period.   

    

"Net Income for the quarter stands at Rs 1,462 crore compared to Rs 2,113 crore in corresponding quarter last year. Q1'16 Net Income of Rs 2,113 crore has been re-instated to Ind-AS from previously reported IFRS figures which include an exceptional gain of Rs 556 crore on account of this reinstatement," Airtel said in a statement.   

 

Total consolidated income from operations of Airtel in the reported quarter increased by 7.9 per cent to Rs 25,572.9 crore from Rs 23,680.8 crore in the year-ago period.   

The consolidated revenues in the reported quarter grew on an underlying basis, adjusted for Africa divested operating unit and tower assets sale, the statement said.    

 

Consolidated mobile data revenues at Rs 4,640 crore grew by 34.1 per cent on year-on-year basis.    

   

Airtel said that its India revenues for in the reported quarter grew by 10.3 per cent at Rs 19,155 crore compared to corresponding period of 2015-16 due to a healthy growth of 9.1 percent in Mobile, 11 per cent in Homes Services, 22.2 percent in Digital TV and 10.4 percent in Airtel Business on an yearly basis.   

 

"The year has begun well with revenue growth of 10.3 percent Y-o-Y and continued revenue market share gains. In continuation of our Project Leap announcement, we have now transparently opened up our entire mobile network to our customers," Bharti Airtel MD and CEO for India and South Asia Gopal Vittal said.

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