Airtel profits decline 28% to Rs 1,006 cr in fourth quarter

Thomas K. Thomas

http://www.thehindubusinessline.com/industry-and-economy/info-tech/article3376009.ece?homepage=true

New Delhi, May 2: 

Bharti Airtel has reported a 28.2 per cent decline in its net profit to Rs 1,006 crore during the further quarter ended March 31, 2012.

The consolidated net income stood at Rs 1,401 crore during the corresponding quarter last year.

The telecom services company said that it was impacted by higher costs on account of 3G licence fee amortisation (Rs 106 crore), 3G interest costs (Rs 84 crore), forex fluctuation losses (Rs 132 crore) and tax provisions (Rs 198 crore).

Total revenues grew 15 per cent to Rs 18,729 crore.

In a statement, Mr Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Ltd, said: “The recent regulatory developments in India will have significant implications on the future of telephony and broadband, as well as India’s global competitiveness. The entire industry looks to the Government for a fair, transparent and sustainable telecom regime.”

Revenue growth in the fourth quarter was fuelled by increased customer additions and strong minutes growth in India. Africa revenues continued its growth trend.