This Article is From May 19, 2020

Bharti Airtel Reports Rs 5,237 Crore Loss In March Quarter On One-Time Spectrum Charges

Bharti Airtel said its ARPU or average revenue per user was at Rs 154 in the quarter ended March 31, as against Rs 123 in the fourth quarter of 2018-19.

Bharti Airtel Reports Rs 5,237 Crore Loss In March Quarter On One-Time Spectrum Charges

Bharti Airtel said it set aside Rs 5,642 crore for one-time spectrum charges in Q4

Bharti Airtel reported a net loss of Rs 5,237 crore for the quarter ended March, due to one-time spectrum charges. The telecom major had posted a net profit of Rs 107.2 crore for the corresponding period a year ago. In a regulatory filing late on Monday, Bharti Airtel, the country's third largest telecom operator by subscribers, said its revenue from operations came in at Rs 23,722.7 crore in the fourth quarter of financial year 2019-20, up 15.15 per cent compared to the year-ago period.

Bharti Airtel said its ARPU or average revenue per user was at Rs 154 in the quarter ended March 31, as against Rs 123 in the fourth quarter of 2018-19.

The telecom service provider set aside Rs 5,642 crore for one-time spectrum charges in the quarter, it said.

"These are unprecedented times for everyone across the world as we battle the impact of COVID-19 and its consequent impact on livelihoods," said Gopal Vittal, managing director and CEO, India and South Asia, Bharti Airtel.

The company said its India mobile business has turned EBIT- or earnings before interest and taxes-positive, and its revenue from mobile services in the country rose 21.8 per cent on a year-on-year basis.

For the entire financial year 2019-20, Bharti Airtel reported a net loss of Rs 32,183.2 crore, in contrast to a net profit of Rs 409.5 crore for the previous year.

Bharti Airtel shares had ended 2.88 per cent lower at Rs 538.15 apiece on the BSE, in line with a 3.44 per cent fall in the benchmark S&P BSE Sensex index, ahead of the earnings announcement by the company.