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Business News/ Companies / Company-results/  Q2 results: Airtel profit falls 65% to 119 crore

Q2 results: Airtel profit falls 65% to ₹119 crore

Bharti Airtel posted a net profit of ₹343 crore a year ago

Revenue fell about 6.2% to Rs 20,423 crore. Photo: AFPPremium
Revenue fell about 6.2% to Rs 20,423 crore. Photo: AFP

Bengaluru: Bharti Airtel Ltd reported a 65.4% fall in quarterly profit on Thursday, as it faces pricing pressure amid aggressive competition in the country’s telecom sector.

The mobile carrier posted a profit of 119 crore ($16.25 million) for the quarter ended 30 September, compared with a profit of 343 crore a year ago.

Revenue fell about 6.2% to 20,423 crore, the New Delhi-based company said.

Also read: Airtel Africa raises $1.25 billion from SoftBank, 5 others before IPO

Earlier in the day, Bharti Airtel chairman Sunil Mittal said the telecom sector continued to be highly-taxed like the tobacco industry, and the issue of high levy should be resolved.

Speaking at the inaugural session of India Mobile Congress 2018, Mittal said the National Digital Communications Policy (NDCP), like the previous telecom policy, clearly acknowledged that revenue maximisation was not the objective.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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Published: 25 Oct 2018, 05:07 PM IST
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