Bharti Q2 loss narrows to ₹763 crore

Bharti Q2 loss narrows to ₹763 crore

Bharti Airtel on Tuesday reported a net loss of ₹763 crores for the quarter ended September 30 even as it posted its highest-ever consolidated quarterly revenue of ₹25,785 crores driven by a rise in data usage and new 4G users.

The net loss for the second quarter is significantly lower than the net loss of ₹23,045 crores recorded in the July-September 2019 quarter on account of higher provisioning following a Supreme Court order related to adjusted gross revenues (AGR). “Despite being a seasonally weak quarter, we delivered a strong performance with revenue growing at 22% year-on-year,” said Gopal Vittal, MD and CEO, India & South Asia. “Our continued focus on ARPU improvement and cost optimization led to EBITDA margin expansion by over 158 basis points in the quarter sequentially,” he added. The company said India revenue for the quarter came in at ₹18,747 crores, an increase of 22%, while mobile revenue rose 26%. The ARPU (average revenue per user) increased to ₹162 compared with ₹128 in the year-earlier quarter. It added that 4G data customers increased by 48% to 152.7 million, while traffic increased to 77.3 petabytes (PB)/day compared with 48.9 PB/day a year earlier. Meanwhile, the home business segment witnessed revenue growth of 7.3% with more than 1.29 lakh customers added during the quarter, taking the total base to 25.8 lakh customers.

On the AGR issue, the company said, “The group has represented to DoT that it has already paid more than 10% of the total dues as demanded by the DoT and will ensure ongoing compliance with the Hon’ble Supreme Court’s orders.”

The company also said that its total capital expenditure for the quarter stood at ₹6,791 crores.

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