Country’s largest telecom company Bharti Airtel today reported a 30.5 percent jump in its March quarter’s net profit at Rs 1,255 crore, buoyed by a robust customer growth and rise in mobile data revenue. Also Read - Airtel launches 'Work@Home' enterprise-grade solution for businesses
The Sunil Bharti Mittal-led company had reported a net profit of Rs 962 crore for the corresponding period last year. Total revenue of the firm rose 3.6 percent to Rs 23,016 crore for the reported quarter as compared with Rs 22,219 crore in the year-ago period, Airtel said in a statement. The company said changes in inter-connect usage charges (IUC) prescribed by regulator Trai, effective March 1, have led to drop in gross revenue by Rs 144.5 crore in the current quarter with a marginal impact on net revenues. Also Read - Bharti Airtel Q1 net rises 40 percent
On yearly basis, the net profit soared 86.9 percent to Rs 5,183 crore for FY 2014-15 as compared with Rs 2,773 crore in the previous fiscal. Total revenue for the entire 2014-15 fiscal rose 7.3 percent to Rs 92,039 crore as against Rs 85,746 crore in the preceding year. Net debt of the company stood at Rs 66,841.7 crore at the end of March 2015. The company said consolidated mobile data revenues for the March quarter at Rs 3,085 crore grew by 59.1 percent year-on-year(y-o-y), uplifted by higher data usage and robust customer growth. Mobile data revenue for India though grew over 70 percent to Rs 2,324 crore, mainly led by increase in usage per customer and growth in data customer base. “The year has ended on a healthy note, with revenue growth accelerating to 12.1 percent in FY 2014-15, from 9.9 per cent and 9.5 percent respectively in the previous two years,” Bharti Airtel MD and CEO (India and South Asia) Gopal Vittal said. Also Read - Airtel to launch 4G smartphones by November, priced around Rs 4,000
The company said consolidated capital expenditure for FY 15 stood at Rs 18,668 crore. Airtel said forex losses for FY2014-15 stood at Rs 2,153 crore as compared with Rs 1,242 crore in FY14. Net interest cost was down by Rs 903 crore from Rs 3,595 crore to Rs 2,693 crore in FY15.