Telecom giant Bharti Airtel on Wednesday posted a decline of 28.19 per cent in consolidated net income at Rs 1,006 crore for the fourth quarter ended March 31, hit by higher cost of 3G licence fee amortisation, 3G interest costs, forex losses and tax provisions.
The country’s largest telecom operator had registered a net profit of Rs 1,401 crore in the January-March quarter of the previous fiscal.
The consolidated net income was impacted by higher costs on account of 3G licence fee amortisation (Rs 106 crore), 3G interest cost (Rs 84 crore), forex fluctuation losses (Rs 132 crore) and tax provisions (Rs 198 crore), the company said in a statement.
“I’m pleased that the year ended with the company’s customer base crossing 250 million across 20 countries. Our launch of 4G LTE, the first in India is a testimony of our commitment to the broadband agenda,” Bharti Airtel CMD Sunil Bharti Mittal said.
However, the recent regulatory developments in India will have significant implications on the future of telephony and broadband as well as India’s global competitiveness, he added.
“The entire industry looks to the government for a fair, transparent and sustainable telecom regime,” Mr. Mittal said.
Total revenue of the company, however, was up by 15 per cent at Rs 18,729 crore for the March quarter, compared to Rs 1,293 crore in the year-ago period.
For the full year ended March, 2012, Bharti airtel’s net profit was down by 29.6 per cent at Rs 4,259 crore, compared to Rs 6,047 crore in 2010-11.
Total revenue for the 2011-12 fiscal stood at Rs 71,451 crore, as against Rs 59,538 crore in 2010-11, up 20 per cent.
The company’s average revenue per person (ARPU) stood at Rs 189 in the March quarter, compared to Rs 187 in the December quarter.
The board has recommended a dividend of Re 1 per equity share of Rs 5 each for the financial year 2011-12.
Shares of Bharti airtel were trading at Rs 315.9, up 1.80 per cent from the previous close on the BSE in early trade.
Keywords: Bharti Airtel Q4 results