In the preceding quarter, Bharti had posted a net loss of Rs 5,237 crore, when it had made a provision of Rs 7,000 crore on account of AGR dues and one-time spectrum charge.
On the back of exceptional items totalling Rs 15,497 crore, which includes an additional provisioning of Rs 10,744 crore towards adjusted gross revenue (AGR) dues, Bharti Airtel on Wednesday posted a consolidated net loss of Rs 15,933 crore during the April-June quarter. Barring this exceptional item, the company’s net loss stood at Rs 436 crore. In the preceding quarter, Bharti had posted a net loss of Rs 5,237 crore, when it had made a provision of Rs 7,000 crore on account of AGR dues and one-time spectrum charge.
Up to the preceding quarter, the company had made a total provision of Rs 36,832 crore towards AGR dues. Bharti’s total dues towards AGR is around Rs 43,000 crore and it has made a payment of around Rs 18,000 crore so far.
Total consolidated revenues during the period saw a marginal increase on a sequential basis at Rs 23,939 crore, which was higher than Bloomberg consensus estimate of Rs 23,775 crore. The Ebitda at Rs 10,639 crore was up 3% on a sequential basis. This was also higher than estimate.
The company continued to improve its average revenue per user at Rs 157 compared to Rs 154 in the preceding quarter. Minutes of voice usage per customer per month improved 3% quarter-on-quarter at 994 minutes. Similarly, data usage per customer per month was up 11.2% sequentially at 16,655 MB.
“We are going through an unprecedented crisis caused by Covid. Despite this, our teams have served the country well and kept our customers connected. Data traffic growth surged by 73% YoY even as 4G net additions slowed down to 2 million caused by supply chain shocks in the device eco system. Revenues grew by 15% Y-o -Y and performance was satisfactory across all segments. Our flagship “War on Waste” programme, helped improve Ebitda margin by 1.6% over the previous quarter. To serve our customers even better, we have launched a company-wide programme to improve our customer experience. We continue to invest in the best of emerging technologies to make our networks future ready,” Gopal Vittal, MD and CEO, India and South Asia said.