Bharti Airtel Ltd posted a 77.8% fall in fourth-quarter profit on Tuesday, as pricing pressure in the telecoms sector after the entry of an upstart rival continued to hurt India's top mobile carrier. Net profit recorded at Rs 829 million in the quarter ended March 31, lower than Rs 3.73 billion a year earlier, the company said. Revenue fell 10.5% to Rs 196.34 billion, hit by the telecom regulator's decision to cut international termination charges.
Full year consolidated revenues stood at Rs 836.88 billion and net income was recorded at Rs 10.99 billion.
Consolidated mobile data and voice traffic grew 505% and 55% respectively Y-o-Y. Africa net revenue grew 13.4% Y-o-Y and EBITDA margin at 35.9%. Airtel crossed 300 million mobile customer mark in India, according to the statement issued by the company.
Highlights for the fourth quarter ended March 31, 2018
Overall customer stands at 413.8 million across 16 countries, up 12.1% Y-o-Y excluding divested units.
Consolidated total revenues at Rs 196.34 billion, down 5.4% Y-o-Y on an underlying basis.
India revenues down 7.5% Y-o-Y on an underlying basis; Africa revenues up 10.7% Y-o-Y.
Mobile data traffic grows to 1,616 Bn MBs in the quarter; growth of 505% Y-o-Y.
Africa EBITDA margin at 35.9%, up 10.3% Y-o-Y.
Consolidated EBITDA at Rs 70.34 crore.
Consolidated EBITDA margin at 35.8%, down 0.6% Y-o-Y.