Telecom giant
Bharti Airtel on Wednesday posted a 40.62 per cent dip in third quarter net income to Rs 1,303.3 crore, hurt primarily by an increase in spectrum charges and one-time costs related to its brand relaunch.
The company had registered a net income of Rs 2,194.9 crore in the October-December quarter of the previous financial year.
Total revenues of the company, however, were up 51.14 per cent at Rs 15,576 crore in the December quarter, compared to Rs 10,305.3 crore in the year-ago period.
On a year-on-year basis, the company's income before taxes dropped on account of an increase in
spectrum charges in India (Rs 80 crore) and an increase in net interest outgo (Rs 471 crore), apart from the one-time brand relaunch cost and forex losses, the company said.
On a quarter-on-quarter basis, Bharti Airtel's income before taxes was impacted by the one-time brand relaunch cost of Rs 340 crore. In addition, adverse foreign currency fluctuation in Africa and India resulted in an exchange loss of Rs 151 crore for the company in the third quarter of the 2011 financial year, it added.
The company's average revenue per person (ARPU) stood at Rs 198 in the December quarter, compared to Rs 202 in the September quarter.
Shares of Bharti Airtel moved up 3.52 per cent to an early high of Rs 325.70 on the Bombay Stock Exchange on Wednesday.