Bharti Airtel reports improving quarterly results, though declining profitability persists

Bharti Airtel reported its first-fiscal quarter financials to June 30 and saw revenues rise by 9.9 per cent as its core Indian market stabilised after a couple of years of shrinkage.

Consolidated revenues at Rs202.64 billion (US$3.3 billion) grew by 9.2 per cent, over the corresponding period last year, led by 10.9 per cent growth in Indian mobile revenues, 34 per cent in Digital TV, 17.9 per cent in B2B and 37.1 per cent in South Asia.

Reported International revenues comprising of Africa and South Asia operations grew by 4.6 per cent year-on-year in local currency terms.

However, the company still posted its 14th consecutive quarter of declining profits. Net profits came in at Rs6.89 billion, down 9.6 per cent from Rs 7.62 billion in the corresponding quarter last year.

The operator’s consolidated customer base reached 275 million at the end of June, up five per cent year-on-year.