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Reliance Jio effect: Bharti Airtel reports heavy losses in Q1 2019
Airtel completed the acquisition of Telenor because of which its customer base in the country rose to 344 million ( including 28 million Telenor customers).
India's largest telecom service provider Bharti Airtel has reported a net loss of Rs. 940 crores during the quarter ended June.
However, the company reported Rs 97 crore net profit on a consolidated basis in the same period from its Africa business.
"Industry pricing continues to remain untenable. However, led by our successful bundles, content partnerships, and handset upgrade programs, our mobile data traffic surged 355 percent on a year-on-year basis," the company's MD and CEO (India and South Asia) Gopal Vittal said.
"Our investments have led to some opex headwinds in this quarter but we remain focused on structural cost containment through our 'War on Waste' program," he said.
Consolidated revenues for the quarter stood at Rs 200,800 million down 8.6 percent (underlying down 2.3 percent) compared to Rs 219,581 million in the corresponding quarter last year, primarily on account of the sustained pricing pressure in India Mobile segment.
India revenues for the quarter stood at Rs 149,300 million, down13.5 percent (underlying down 7.0 percent) compared to Rs 172,521 million during the same period last year, primarily led by a drop in mobile revenues.
During the last quarter, Airtel completed the acquisition of Telenor because of which its customer base in the country rose to 344 million ( including 28 million Telenor customers).
The company has stepped up investments on upgradation and expansion of network towers, Airtel informed.
By the end of the quarter, the company had 167,355 network towers as compared to 162,380 network towers in the corresponding quarter last year. Out of the total number of towers, 146,428 are mobile broadband towers.
Moreover, the company has total 320,204 mobile broadband base stations as compared to 203,506 mobile broadband base stations at the end of the corresponding quarter last year and 298,014 at the end of the previous quarter.
Mobile data traffic has grown by 75 percent to 78 billion MBsi in Africa as compared to 44 billion MBs in the same quarter last year.
Data customers increased by 45.2 percent to 26.4 million from 18.2 million in the corresponding quarter last year.
Raghunath Mandava, MD, and CEO, Africa, said: "We remain best placed to capture the ever-growing data market. We have rolled out 1,000 broadband towers during the quarter.
We continue our focus on profitable growth through superior customer offerings and expanding our Airtel money base - which now transacts more than $ 24 billion on an annualized basis."