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1-min read

Bharti Airtel September-quarter Profit Plunges on Pricing Pressure

Bharti Airtel posted a profit of 1.19 billion rupees for the quarter ended September 30, compared with a profit of 3.43 billion rupees a year ago.

Reuters

Updated:October 25, 2018, 7:21 PM IST
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Bharti Airtel September-quarter Profit Plunges on Pricing Pressure
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India's Bharti Airtel Ltd posted a 65.4 percent fall in quarterly profit on Thursday, as it faces pricing pressure amid aggressive competition in the country's telecom sector.

India's telecom industry has been battered by a price war.

Idea Cellular Ltd and Vodafone Plc have merged their India operations to create the country's largest telecom operator by subscribers and revenue.

Bharti Airtel posted a profit of 1.19 billion rupees for the quarter ended September 30, compared with a profit of 3.43 billion rupees a year ago.

Revenue fell about 6.2 percent to 204.23 billion rupees, the New Delhi-based company said.

Its domestic average revenue per user (ARPU) during the quarter fell 28.8 percent to 101 rupees, while Africa ARPU dropped to $3 from $3.2 last year.

Airtel shares closed down 6.43 percent on Thursday, while the NSE index ended 0.98 percent lower.

| Edited by: Padmaja Venkataraman
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