Wednesday, July 31, 2013

Bharti Airtel Q1 Net profit down 9.6 percent at Rs 688.9 crore

New Delhi:31 Jul 2013

This is a 14th consecutive fall in quarterly profits of the company. Total income of the company, however, was up 9.3 percent at Rs 20,299.5 crore for the reported quarter as against Rs 18,570.3 crore in the same period last fiscal.

\"Our results for the quarter reflect the overall stability of our operations, and demonstrate the potential for growth, particularly seeing robust data growth across all geographies,\" company\'s Chairman Sunil Bharti Mittal said in a statement.

The company\'s mobile revenues in the country grew on the back of jump in ARPU (average revenue per user) to Rs 200 in Q1 of 2014, up by Rs 16 over corresponding period last year.

\"Results for Airtel India reflect rationality returning to the sector which needs to be complemented by a more enabling regulatory environment for a deeper penetration of telecom and broadband services,\" Mittal added.

Derivative and exchange fluctuation losses during the quarter stood at Rs 534 crore, mainly caused by rupee depreciation, compared to gains of Rs 160 crore in the same period last year.

The net debt of the company has been reduced to Rs 58,380.6 crore as on June 30, 2013 on account of additional equity infusion of Rs 6,796 crore by Qatar Foundation Endowment. Shares of the company were trading up 0.86 percent at Rs 324.20 apiece at 0955 hrs on the BSE.

The data customer base of the company grew 20 percent to reach 46,584, of which 6,796 are 3G customers. Data users comprise 24.4 percent of the total customer base of the company, the statement said.

Airtel said data now contributes 7.4 percent of the mobile revenues. India EBITDA margin improved from 31.9 percent last year to 34.9 percent, while International margins improved from 24 percent to 25.4 percent, it added.

The company also said its board has approved the sale or transfer of its data centre undertaking (Business) by way of slump sale to its newly incorporated wholly-owned subsidiary Nxtra Data Limited.]

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