Airtel Q4 consolidated net up 37.5% on exceptional gain

Last Updated: Tue, May 07, 2019 11:04 hrs
A girl checks her mobile phone as she walks past the Bharti Airtel office building in Gurugram

New Delhi: Gains from exceptional item aided telecom major Bharti Airtel to post a rise of 37.5 per cent in its total consolidated net profit for the January-March quarter, on an year-on-year (YoY) basis.

The total consolidated net profit (profit attributable to owners and non-controlling interest) of the company stood at Rs 576.10 crore during the fourth quarter (Q4) of financial year 2018-19, against Rs 419 crore reported during the corresponding period of the previous fiscal, Airtel said in a statement.

"Exceptional item during the quarter ended March 31, 2019 mainly of Rs 2,052.2 crore pertaining to re-assessment of levies, based on a recent pronouncement related to the manner of determination of such levies," the company said in a statement.

The company's total income during the period under review was Rs 20,656.8 crore, 6.09 per cent higher than Rs 19,469.8 crore earned during the same period of FY 2017-18, it said.

However, for the fiscal 2018-19, the telco reported 22.72 per cent decline in its consolidated net profit at Rs 1,687.50 crore. The total income of the company in FY 2018-19 was Rs 81,071.4 crore, 2.19 per cent lower from Rs 82,887.6 crore.