Wednesday, May 1, 2013

Bharti Airtel March quarter profit drops 49.4%

2,MAY,2013 MUMBAI-

Mumbai: Bharti Airtel Ltd, India's largest communications services provider by revenues and subscribers, reported net profit of Rs.508 crore for the fourth quarter of 2012-13, declining 49.4% compared with a year ago.

This is the 13th consecutive quarter in which the company has reported a fall in quarterly profit.

Revenue for the quarter came in at Rs.20,448 crore, up 9.2% over the same period last year.

The fall has been attributed to a one-time tax hit of Rs.133 crore, depreciation and amortization cost of Rs.515 crore, net interest cost of Rs.133 crore, dividend distribution tax and higher deferred tax charge due to hike in surcharge of Rs.37 crore and Rs.96 crore, respectively.

The earnings before interest, taxes, depreciation and amortization (Ebitda) margin for the company was at 31.7%.

For full 2012-13, Bharti Airtel posted a net profit of Rs.2,276 crore, down 46.6% from the previous year. Revenue for the year came in at Rs.80,311 crore, up 12.4%

Full year numbers were hit by higher depreciation and amortization costs of Rs.2,128 crore and interest costs (Rs.841 crore), Bharti Airtel said.
News From:

No comments:

eXTReMe Tracker