Bharti Airtel Q1 results: Consolidated PAT dives 63% QoQ to Rs 284 cr, misses estimate; sales rise 4%
Manjil Das, INN/Chennai
Twitter-@SGiggle29 @Infodeaofficial
It was below Street projections, but Bharti Airtel’s quarterly net profit fell 62.7 percent sequentially to Rs. 284 crores in the second quarter ended June.
A 4.3% sequential increase in revenues to Rs. 26,854 crores for the reported quarter was announced by the telecom provider.
As a result of greater tax costs in the quarter, the company’s bottom line fell sequentially.
Due to a low base in the year-ago quarter, the company’s consolidated revenues increased by 21.2% year-over-year. This was the third consecutive quarter that the company’s bottom line was in the black after six consecutive quarters of being in red.
During the June quarter, Bharti Airtel recorded an average income per subscriber of Rs. 146 per month, up from Rs. They were expecting a monthly ARPU of Rs. 145 per subscriber from the firm, according to analysts.
As a result of the Covid shutdown and financial pressure in the lower market, our wireless revenue suffered, but our total performance reflected the strength of our portfolio, said Gopal Vittal, Managing Director and Chief Executive Officer for India and South Asia.
Operating profit for the reported quarter was Rs. 13,189 crores, while operating margin increased by 200 basis points to 49.1 per cent from the prior-year quarter.
Bharti Airtel’s shares closed at Rs. 578.4 on the National Stock Exchange, up by 2.3 percent.
