Bharti Airtel Q2 net Slides 4.9% at Rs 1,461 cr

Telecom giant Bharti Airtel on Tuesday in after-market hours reported that consolidated net profit fell 4.9 per cent to Rs. 1,461 crore in Q2 FY 2016-17 from the same period a year ago on increased spectrum costs. In Q2 FY 2015-16, the company had posted a consolidated net profit of Rs 1,536 crore, Bharti Airtel Ltd said in a filing to the Bombay Stock Exchange (BSE). Total consolidated revenues climbed by 3.4 per cent to Rs 24,652 crore in Q2 FY 2016-17 from Rs 23,836 crore in the same period a year ago.

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Revenues from its India market stood at Rs 19,219 crore in Q2 FY 2016-17, up by 10.1 per cent from the same period a year ago, driven by healthy growth in Digital TV (20.9 per cent), Airtel business, (19.2 per cent), Homes (14.9 per cent) and Mobile (7.9 per cent), on a year-on-year basis, respectively. Gopal Vittal, MD and CEO, India & South Asia at Bharti Airtel said: “Overall revenue momentum in India has been sustained primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 per cent y-o-y.”