Airtel Q4 net profit up 89 per cent on higher call charges

Sunil Mittal - led Bharti Airtel announced 89 per cent jump in its fourth-quarter consolidated net profit at Rs 962 crore on the back of higher call charges and increased revenue from data business. The country's biggest mobile phone company had posted a net profit of Rs 509 crore in the January- March quarter last fiscal.

After reporting declining quarterly profits for four years, Airtel had posted a rise for the first time during the December quarter. Consolidated mobile data revenues at Rs1,900 crore grew by 93.4 per cent year- on- year during the fourth quarter accounting for more than one- third of the growth, the company said in a statement. Total revenue for the quarter was up 13.5 per cent to Rs 22,219 crore as compared to Rs 19,582 crore in the yearago period.

For the full 2013-14 fiscal, net profit rose 21.8 per cent to Rs 2,773 crore as against Rs2,276 crore in previous fiscal.

Revenue was up 11.5 per cent to Rs85,746 crore. "The year has ended on a satisfying note both in operational and financial terms. Network and spectrum investment, a refreshed IT strategy, innovative service platforms and an energised organisation will enable sustained growth in India and South Asia," managing director and chief executive (India & South Asia) Gopal Vittal said.

Annual consolidated revenues were mainly driven by mobile data (96.3 per cent), DTH (27.5 per cent), Airtel Business (19.1 per cent) and South Asia (41.2 per cent).

Mobile data revenue (India) at Rs1,325 crore registered a growth of 89.2 per cent Y-o-Y while telemedia, DTH and Airtel Business registered double digit revenue growth, the company said. Global revenues in Q4, comprising Africa and South Asia, grew three per cent to $ 1.21 billion. Airtel Africa witnessed two- per cent growth in revenues for the reported quarter. Revenues stood at $ 1.14 billion as compared to $ 1.12 billion last time. Net loss for the region also widened to $ 24 million as compared to a loss of $ 91 million in the corresponding quarter last year.

"The quarter was impacted by the seasonal downturn in parts of Africa and regulatory interventions in Nigeria," MD and CEO ( Africa) Christian de Faria said.

Courtesy: Mail Today