Reliance Jio effect: Bharti Airtel posts Rs 9.4-bn loss in India operations

Total revenues were also down by 8.6 per cent to Rs 200 billion for the June 2018 quarter, compared to Rs 219 billion last year

Bruised by an intense tariff war in the telecom sector, Bharti Airtel has reported a net loss of Rs 9.4 billion in its India operations during the quarter ended June. The Sunil Bharti Mittal-led firm, set to be dethroned by Vodafone Idea as the country’s largest telecom operator, had reported a net profit of Rs 8.3 billion for India in the same period last year.

However, helped by an exceptional gain of Rs 5.15 billion, the telco has reported a consolidated net profit of Rs 970 million for the June quarter. Without this gain, Airtel would have reported a net loss