Airtel Q1 profit falls 30.8%

28 Jul 2016
Daily News

India's Bharti Airtel posted a 30.8% slump in net profit for the June quarter, as a steep 42.1% decline in the value of the Nigerian Naira reduced contributions from the operator's African operations.

Airtel reported a net profit for its fiscal first quarter of 14.62 billion rupees ($218 million). Consolidated revenues increased 8.4% year-on-year to 255.46 billion rupees, with India revenues up 10.3% to 191.55 billion rupees.

Indian mobile broadband customers increased by 68.3% to 36.6 million, with data ARPU increasing by 21 rupees to 202 rupees. Total mobile data revenues grew 35.1% year-on-year to 35.25 billion rupees

“The year has begun well with revenue growth of 10.3%Y-o-Y and continued revenue market share gains,” Airtel MD and CEO for India and South Asia Gopal Vittal said.

“In continuation of our Project Leap announcement, we have now transparently opened up our entire mobile network to our customers so as to partner them in striving to deliver a world class experience.”

African revenues adjusted for tower and operating unit sales meanwhile grew 3.8% year-on-year in constant currency terms, with data revenues increasing to $154 million, or 16.5% of overall revenues.

Over the past 24 months, Airtel has sold tower assets in 11 African countries and divested its operations in Burkina Faso and Sierra Leone, raising a total of $3.25 billion.

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