Airtel Q3 Net Down By 72%, Firm Makes Only Rs 86 Crore

Bharti Airtel, the country’s largest telecom player by revenue market share, announced its third quarter results for the financial year 2019. And the results are no better than what the company has been witnessing since third quarter, 2016. As per the results Airtel Q3 net profit declined by 72% compared to the same period a year ago.

In Q3, 2019, Airtel made Rs 86 crore as profit on consolidated basis whereas In Q3, 2018 the company had pocket a net profit of Rs 306 crore. On a quarter over quarter comparison, the Sunil Mittal-led firm had posted profits of Rs 119 crore.

As far as revenues are concerned, Airtel’s total sales for the Q3 ended December, 2018 has been registered at Rs 20,519 crore showing just 1% growth from the corresponding quarter a year ago. In Q3 2017, Airtel’s consolidated revenue was Rs 20319 crore.

India revenues for Q3’19 at Rs 14,768 crore have declined by 2.3% Y-o-Y (declined 3.5% on reported) on an underlying basis. Mobile revenues have witnessed a Y-o-Y de-growth of 4.0% on an underlying basis primarily on account of the sustained pricing pressure in India Mobile segment. Digital TV revenue witnessed a growth of 7.1% Y-o-Y and Airtel Business has witnessed a growth of 10.9% on an underlying basis. Mobile data traffic has almost tripled to 3,217 Bn MBs in the quarter as compared to 1,106 Bn MBs in the corresponding quarter last year. Mobile 4G data customers increased by 112% to 77.1 Mn from 36.4 Mn in the corresponding quarter last year.

In constant currency terms, Africa revenues grew by 11.2% Y-o-Y led by strong growth in data and Airtel money transaction value. Mobile data traffic has grown by 61% to 105 Bn MBs in the quarter as compared to 66 Bn MBs in the same quarter last year. Data customers increased by 25.5% to 29.3 Mn from 23.3 Mn in the corresponding quarter last year. Active Airtel Money customer base increased to 13.8 Mn, boosting the total transaction value on Airtel Money platform by 29% to $ 6.9 billion. Consequently, EBITDA margin improved by 1.7% Y-o-Y and stands at 37.2%.

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