Bharti Airtel Q2 net profit declines 38 percentNovember 4th, 2011 - 1:18 pm ICT by IANS
New Delhi, Nov 4 (IANS) Telecom service provider Bharti Airtel Friday reported a decline of 38 percent in net profit at Rs.1,027 crore for the quarter ended Sep 30 owing to higher interest and 3G network rollout costs.
The net profit during the like period of the previous financial year was Rs.1,661.2 crore, the company said in a statement.
The total income stood at Rs.17,276.4 crore up 13.4 percent during the quarter under review as against Rs.15,231.9 crore during the like period of the previous fiscal.
The monthly average revenue per user (ARPU) for its India operations however declined an annual 9 percent to Rs.183 for the quarter.
The operator said that the recent tariff increase in India has begun to take effect offsetting some of the inflationary and other cost increases impacting the entire industry.
However it added that during the quarter, the US dollar appreciated against the Indian rupee and several African currencies resulting in forex restatement losses of Rs.239 crore.
“This year is progressing well for Bharti Airtel businesses. The arrest of continuously declining prices in India augurs well for the telecom industry,” said Sunil Bharti Mittal, chairman and managing director, Bharti Airtel.
“We look forward to constructive deliberations on the draft National Telecom Policy 2011 and TRAI recommendations for promoting the government’s broadband vision and viability of the sector,” he added.
Airtel last year acquired telecom operations in 15 African countries in a $9 billion debt-funded deal, thus expanding its operations in 19 countries across the world. This acquisition made Airtel the fifth largest telecom operator by subscribers in the world.
Its overall customer base across 19 countries stands at 237 million. In India it has over 171 million subscribers.
During the quarter under review, Africa notched up strong revenue growth of 23 percent. The company has launched 3G services in Congo (Brazzaville) and Airtel money in Zambia and Kenya.
“We continue to expand our footprint across Africa, with our recent acquisition of a 2G and 3G license in Rwanda,” Mittal added.
At the Bombay Stock Exchange the shares of the company were 1.11 percent up to trade at Rs.396.90.
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