Total revenues grow 9.9% to Rs 21,324 cr; forex loss at Rs 342 cr

Bharti Airtel Ltd, on Wednesday, reported a 29% drop in net income at Rs 512 crore during July-September 2013 quarter.

The result marks the 15th consecutive quarter of decline in net profit for the country’s largest telecom operator by subscriber base. The telecom major had posted a net income of Rs 721 crore in the corresponding quarter of the previous financial year.

Consolidated average revenue per user in India dropped 4% to Rs 192 during July-September quarter, against Rs 200 during the previous quarter. But an area of worry for telcos has been how to increase average realisation per minute — the money the company makes from customers. Average realisation per minute for voice in India increased just 1% to 36.74 paise from 36.39 paise in the previous quarter. Average realisation per MB for data declined 2% to 30.26 paise from 30.97 paise.

The company’s mobile internet revenue has doubled to Rs 1,500 crore during the quarter as against that of the same quarter previous fiscal year.

Bharti Airtel’s total revenue grew 9.9% to Rs 21,324 crore during the quarter as against Rs 19,400 crore during the year ago period.

“Mobile internet is now a major engine of growth for Airtel across all geographies. Our sustained investment in this segment will further enhance customer experience and seamless coverage. The revenue growth in Africa reflects the inherent potential in the world’s most promising continent. I am also pleased to see the evolution of Airtel Money, a significant service in geographies which are relatively under-banked,” said Chairman Sunil Mittal in a statement.

For more visit: Business Standard

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