Bharti Airtel reports net loss of Rs 5,237 cr in Q4

Source : IANS
Author : IANS
Last Updated: Tue, May 19th, 2020, 12:13:12hrs
Bharti Airtel reports net loss of Rs 5,237 cr in Q4

New Delhi: Telecom major Bharti Airtel has reported a net loss of Rs 5,237 crore for the January-March quarter.

During the corresponding period in the previous financial year, the company had reported a net profit of Rs 107 crore.

The consolidated revenues for the fourth quarter of FY 2019-20 was at Rs 23,723 crore, higher by 15.1 per cent from the year on year basis, the company said in a statement on Monday evening.

The telecom major took a hit due to the Rs 7,004 crore exceptional item during the quarter, which comprises of a charge on account of reassessment of regulatory cost based on the Supreme Court judgment on the one-time spectrum charge (OTSC) related matter.

The average revenue per user (ARPU) of the company for the quarter was at Rs 154 as compared to Rs 123 in the year ago period.

Gopal Vittal, MD and CEO, India & South Asia, said: "These are unprecedented times for every one across the world as we battle the impact of Covid-19 and its consequent impact on livelihoods. Even in this difficult time, it is our investments in network technologies coupled with our culture of customer obsession that has allowed us to keep the nation connected and serve our customers."

"We are therefore hopeful that the government will implement the recommendations of the TRAI and the intent of the New Telecom Policy and bring down the high levels of regulatory levies and taxes that the sector is subjected to," he added.

Vittal said that the growth during the quarter was driven by two factors, sustained momentum of 4G customer additions coupled with improved tariffs.