Thursday, May 2, 2013

Bharti Airtel Q4 standalone Net down 31.1%

NEW DELHI, May 2, 2013 PTI





Telecom major Bharti Airtel on Thursday reported a 31.1 per cent fall in standalone net profit at Rs 1,084.4 crore for the fourth quarter ended March 31, 2013, mainly due to higher expenses.



The company's standalone net profit stood at Rs 1,574.3 crore in year-ago period.



Total expenses of the company increased by 11.76 per cent at Rs 9,816.3 crore during the reported quarter from Rs 8,782.9 crore in the corresponding period of previous fiscal, the company said in a BSE filing.



The company had to cough up Rs 458.6 crore as tax during the quarter, which is 66 per cent higher than Rs 276.1 crore it paid in January-March, 2012, according to the filing.



Total income from operations of Bharti Airtel on standalone basis, however, increased by 7.35 per cent to Rs 11,548.3 crore in the last quarter of 2012-13 compared to Rs 10,757.2 crore in the same period a year ago.



For the full fiscal ended March 31, 2013, the company's standalone net profit fell by 11.05 per cent to Rs 5,096.3 crore from Rs 5,730 crore in 2011-12.



Income from operations (revenues) on standalone basis during 2012-13 increased by 9 per cent to Rs 45,350.9 crore from Rs 41,603.8 crore in 2011-12.



The consolidated net profit of the company during the quarter ended March 31, 2013, fell by 49.4 per cent to Rs 508.6 crore compared to Rs 1,005.9 core it had posted during the same period a year ago.



This the 13th consecutive quarterly decline in profit of the company.



Airtel said that its consolidated profit was impacted mainly due to high depreciation and ammortisation cost of Rs 515 crore, net interest cost of Rs 132 crore, dividend distribution amounting to Rs 37 crore and higher deferred tax charge due to hike in surcharge of Rs 96 crore.



Total expenditure of the company on consolidated basis increased by 12.4 per cent to Rs 17,956.2 crore in the quarter from Rs 15,974.2 crore it incurred in the year—ago period.



The conolidated income of the telecom major increased by 9.18 per cent at Rs 20,460.4 crore during the reported quarter from Rs 18,738.8 crore it registered in corresponding period of FY12.



For the full year ended March 31, 2013, the consolidated net profit of Bharti Airtel fell by 46.57 per cent to Rs 2,275.7 crore from Rs 4,259.4 crore.



The total annual income of the company increased by 12.38 per cent to Rs 80,359 crore for FY'13 compared to Rs 71,505.8 crore in FY'12.



The company saw increase in Airtel Africa revenue.



The quarterly revenue of Airtel Africe grew by 12.6 per cent to Rs 6,065 crore and annual revenue grew by 21.3 per cent to Rs 24,044 crore.



"I am pleased to see that market corrections have started with improvements in the quality of customer acquisitions, and that price stability is returning to the sector in India.



"With Africa over its peak of organic investments we are optimistic about the potential for improved market shares and margin expansions," Bharti Airtel Chairman Sunil Bharti Mittal said in a statement.



Revenues in the last quarter of FY'13 on consolidated basis was driven by 71 per cent growth in mobile internet services in India, followed by 24 per cent in digital TV, 17 per cent business—to—business (B2B) segment of the company and 12.6 per cent in Africa business.



On annual basis, the mobile data business of the company grew by 66 per cent in India, Digital TV by 26 per cent, airtel business (B2B) by 19 per cent and Africa business rose by 21.3 per cent.



Shares of the company were trading down by 0.47 per cent at Rs 317.25 at 1050 hrs on the BSE.
News From: http://www.7StarNews.com

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