scorecardresearch
Sunday, Oct 02, 2022

Bharti Airtel losses narrow to Rs 763 crore in September quarter; revenue zoom 22%

The company posted revenues of Rs 25,785 crore for the September 2020 quarter, up 22 per cent over the corresponding period last year "with strong growth across the portfolio - geographies and segments", a company statement said.

A Bharti Airtel Ltd. employee waits for customers at a street stall in Mumbai, India, on Monday, Feb. 3, 2020. (Photographer: Dhiraj Singh/Bloomberg)

Telecom operator Bharti Airtel on Tuesday reported substantial narrowing of losses for the second quarter ended September 2020 at Rs 763 crore.

The losses were significantly lower than Q2FY20, when it stood at Rs 23,045 crore, after the company had made provisions of Rs 28,450 crore in the immediate aftermath of the Supreme Court ruling on statutory dues.

The company posted revenues of Rs 25,785 crore for the September 2020 quarter, up 22 per cent over the corresponding period last year “with strong growth across the portfolio – geographies and segments”, a company statement said.

The net loss (before exceptional items) for Q2 FY21 was at Rs 744 crore, while loss (after exceptional items) stood at Rs 763 crore.

Subscriber Only Stories
Uttarakhand resort murder: Amid questions within, BJP may revamp Dhami go...Premium
From suicide to graft: After power shift in Mumbai, key cases go on the b...Premium
Who are the social leaders from Maharashtra holding up Mahatma Gandhi’s l...Premium
Banned: How PFI morphed into a stridently militant outfit over 3 decadesPremium

In a statement, Gopal Vittal, MD and CEO, India and South Asia, said: “Despite being a seasonally weak quarter, we delivered a strong performance with revenue growing at 22 per cent year-on-year”.

The company stays committed to improving the profitability of business, he asserted.

On Adjusted Gross Revenue (AGR) dues, the Airtel statement said the Group has made a representation to the government that it has already paid more than 10 per cent of the total dues as demanded by the Telecom Department and will ensure ongoing compliance with the Supreme Court’s orders.

First published on: 27-10-2020 at 05:31:37 pm
Next Story

Gauri Khan: The days of wearing corsets are done and dusted

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement