Bharti Airtel suffers net loss of Rs 5,237 cr in Q4
By MYBRANDBOOK
Telecom major Bharti Airtel reported a consolidated net loss after exceptional items of Rs 5,237 crore in the fourth quarter ended March 31, as compared to a net profit of Rs 107 crore in the corresponding period last year.
However, consolidated revenues during the quarter grew by 15 per cent year-on-year (YoY) to Rs 23,723 crore, as against Rs. 20,602 crore in the January-March quarter last year.
The company undertook a capex investment of Rs 25,359 crore on a consolidated basis during the year to ensure seamless services during the ongoing pandemic, Airtel said.
“These are unprecedented times for everyone across the world, as we battle the impact of COVID-19 and its consequent impact on livelihoods. Even at this difficult time, it is our investments in network technologies that have allowed us to keep the nation connected and serve our customers," Gopal Vittal, Managing Director and Chief Executive Officer, India & South Asia, said.
The quarter gone by saw healthy revenue growth of 14.4 per cent YoY with mobile business growing at 21.8 per cent, he said, adding that this was driven by two factors - sustained momentum of 4G customer additions of over 12.5 million, coupled with improved tariffs.
"We continue to witness strong data traffic growth of around 74 per cent YoY. It is clear today that telecom has played an essential role in keeping the country going. 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," Vittal added.
However, revenues during the year grew by 8.4 per cent at Rs 87,539 as compared with Rs 80,780 crore last year.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
AMARA RAJA POWER SYSTEMS LTD.
DRUVA SOFTWARE PVT. LTD.
EXATRON SERVERS MANUFACTURING PVT. LTD.
PDRL - Passenger Drone Research Pvt. Ltd.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
PARTNER SPEAKERS
PSU
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
UIDAI - Unique Identification Authority of India
UIDAI and the Aadhaar system represent a significant milestone in Indi...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
