Home Business Bharti Airtel Reports Rs 5,237 Crore Loss in fourth quarter

Bharti Airtel Reports Rs 5,237 Crore Loss in fourth quarter

Bharti Airtel, the countries 3rd largest telecom operator reported a net loss of Rs 5,237 crore for the fourth quarter ended in March. The telecom major had posted a net profit of Rs 107.2 crore for the corresponding period a year ago.

Indian telecom firms raised tarrifs last year after Supreme Court demanded India’s telecom department that wireless carriers pay 920 billion Indian rupees in overdue levies and intererst.

Bharti Aritel average revenue per user was at Rs 154 in the quarter ended March 31, as against Rs 123 in the fourth quarter of fiscal year 2019.

“These are unprecedented times for everyone across the world as we battle the impact of COVID-19 and its consequent impact on livelihoods,” said Gopal Vittal, managing director and CEO, India and South Asia, Bharti Airtel.

The companies earnings before interest and its revenue from mobile services in the country rose by 21.8 per cent on year-on-year basis.

For the financial year 2019-20 Airtel reported a net loss of Rs 32,183.2 crore, while a net profit of Rs 409.5 crore was reported for the previous year.

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