Bharti Airtel Q1 net tanks 75% on Jio impact, African worries

Mobile revenues down 14% to Rs 12,914 cr; Naira devaluation in Nigeria adds to company's woes

Pricing pressures continue to impact the performance of India’s largest telecom services player, Bharti Airtel, which reported a 14 per cent year-on-year (YoY) fall in the April-June quarter with a consolidated revenue of Rs 21,958 crore. Revenues were, however, better than the consensus estimates of Rs 21,903 crore. 

Though the Naira (Nigerian currency) devaluation did impact the company’s consolidated revenues, yet the key reason for the downfall was the poor performance of the mobile segment in the country. 

Indian mobile revenues fell 14 per cent YoY to Rs 12,914 crore. Though the subscriber base of the company increased by 10