Bharti Airtel’s surprise profit! Sunil Mittal telco posts Rs 119 crore profit in Q2 against loss expectation

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Updated: October 25, 2018 5:14:38 PM

Bharti Airtel Q2 results: Bharti Airtel has posted Rs 118.8 crore consolidated net profit in the quarter ended September, in a major surprise for the market

Bharti Airtel Q2 results: Bharti Airtel has posted Rs 118.8 crore consolidated net profit in the quarter ended September, in a major surprise for the marketBharti Airtel Q2 results: Bharti Airtel has posted Rs 118.8 crore consolidated net profit in the quarter ended September, in a major surprise for the market

Bharti Airtel Q2 results: Bharti Airtel has posted Rs 118.8 crore consolidated net profit in the quarter ended September, in a major surprise for the market, which was expecting a net loss to the tune of Rs 110-990 crore. However, as compared with the same period last year, the profit has fallen 65.36% on-year from Rs 343 crore.

The Sunil Mittal’s telco posted a deferred tax write-back of Rs 2,632.60 crore for the quarter ended September, which is the major reason for the unexpected profit. The company’s consolidated net revenue stood at Rs 2,042 crore in the second quarter of FY19, while the consolidated mobile data and voice traffic grew 225% and 55% respectively. The Africa net revenue grew 13.2% on year. The EBITDA margin for the quarter was 37.1%.

“Led by our focus on quality customers through simplified pricing and content partnerships, ARPU decline has moderated in this quarter. We remain focused on driving quality base growth with value adding propositions for our customers,” Gopal Vittal, MD and CEO, India and South Asia said in a statement.

“We also remain committed to investing in enhanced capacities and have deployed 27K plus broadband sites during the quarter, enabling a 239% YoY growth in mobile data volumes,” he added.

Key figures in nutshell

  • Net Income for the quarter at Rs 119 crore vs Rs 343 crore in the corresponding quarter last
    year
  • Subscriber number stood at 445 million across 16 countries, up 15.1% on-year excluding divested units
  • Consolidated total revenues at Rs 20,422 crore, up 0.5% on-year, on an underlying basis
  • India revenues down 3.6% on-year, on an underlying basis
  • Africa revenues up 10.8% on-year
  • Mobile data traffic grows to 2,758 billion MBs in the quarter, growth of 225% on-year
  • Africa EBITDA margin at 37.1%, up 3.9% on-year
  • Consolidated EBITDA at Rs 6,343 crore
  • Consolidated EBITDA margin at 31.1%, down 5.7% on-year
  • Total Capex spends for the quarter at Rs 7,685 crore

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