Bharti Airtel Q2 net profit declines by 76 per cent
DSIJ Intelligence / 31 Oct 2017
The company posted a 76.5 per cent decline in its net profit for the second quarter of FY18. It’s net profit plunged to Rs. 343 crore for the September quarter.
The tariff war between the Indian telecom majors reflected amply in the Q2 results of telecom giant Bharti Airtel, as the company posted a 76.5 per cent decline in its net profit for the second quarter of FY18. The company’s net profit plunged to Rs. 343 crore for the September quarter.
The company’s total revenue fell by 11.7 per cent to Rs. 21,777 crore in the second quarter of FY18 against Rs. 24,651.50 crore in the same quarter of the previous year. The company’s India revenues fell by 13 per cent to Rs. 16,728 crore in the September quarter on a yearly basis.
Further, the company’s consolidated net debt increased to Rs. 91,480 crore as compared to Rs. 87,840 crore posted in the previous quarter. The company also witnessed a substantial increase in its net interest costs from Rs. 1,603 crore in Q2FY17 to Rs. 1,905 crore in the second quarter of the current fiscal.
The stock closed at Rs. 497.65 per share, higher by 0.98 per cent on Tuesday on BSE.
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