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Business Companies 19 May 2020 Bharti Airtel report ...

Bharti Airtel reports fourth-quarter loss of Rs 52.37 billion

REUTERS
Published May 19, 2020, 8:43 am IST
Updated May 19, 2020, 8:46 am IST
Bharti Airtel seen an increase in data traffic during Covid-19 pandemic
Bharti Airtel reports fourth-quarter loss of 52.37 billion rupees. (PTI Photo)
 Bharti Airtel reports fourth-quarter loss of 52.37 billion rupees. (PTI Photo)

Indian telecom operator Bharti Airtel Ltd reported a loss for the fourth quarter on Monday, as it set aside 56.42 billion Indian rupees ($744.90 million) for one-time spectrum charges.

The company, India’s third-largest telecom operator by subscribers, posted a loss of 52.37 billion rupees for the three months ended March 31, compared with a profit of 1.07 billion rupees a year earlier. However, the telco’s quarterly average revenue per user at its India mobile services business rose 25% from a year earlier to 154 rupees.

 

Indian telecom firms raised tariffs late last year after the Supreme Court upheld a demand by India’s telecoms department that wireless carriers pay 920 billion Indian rupees ($12.11 billion) in overdue levies and interest.

The company said total revenue rose 15% to 237.23 billion rupees for the quarter ended March 31.

Bharti Airtel added it had seen an increase in data traffic during the COVID-19 pandemic, which prompted India’s government to impose a strict lockdown since late March.

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