Bharti Airtel rose 1.02% to Rs 361.25 at 9:44 IST on BSE after consolidated net income fell 73.5% to Rs 97 crore on 8.6% decline in total revenues to Rs 20080 crore in Q1 June 2018 over Q1 June 2017.
The result was announced after market hours yesterday, 26 July 2018.Meanwhile, the S&P BSE Sensex was up 256.42 points, or 0.69% to 37,241.06.
On the BSE, 92,000 shares were traded in the counter so far compared with average daily volumes of 9.68 lakh shares in the past two weeks. The stock had hit a high of Rs 365 and a low of Rs 351.60 so far during the day. The stock hit a 52-week high of Rs 565 on 3 November 2017. The stock hit a 52-week low of Rs 331.20 on 18 July 2018.
Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) fell 12.6% to Rs 6837 crore in Q1 June 2018 over Q1 June 2017.
During the quarter, Bharti Airtel acquired Telenor's operations in India. Financial and operational parameters of the combined entity are part of India results. Consolidated mobile data traffic at 2,236 billion MBs in the quarter has registered a year-on-year (Y-o-Y) growth of 328%.
India revenues for Q1 June 2018 at Rs 14930 crore have declined by 7.0% Y-o-Y (declined 13.5% on reported) on an underlying basis. Mobile segment continues to be impacted by aggressive industry pricing and has witnessed Y-o-Y de-growth of 11.0%. India other business have witnessed healthy Y-o-Y growth e.g. 10.6% in Digital TV and 11.8% in Airtel Business on an underlying basis. Mobile data traffic has quadrupled to 2,151 billion MBs in the quarter as compared to 472 billion MBs in the corresponding quarter last year. Mobile broadband customers increased by 75.2% to 85.7 million from 48.9 million in the corresponding quarter last year.
Gopal Vittal, MD and CEO, India & South Asia, said that the acquisition of Telenor's India unit was completed during the quarter. Industry pricing continues to remain untenable. However, led by successful bundles, content partnerships and handset upgrade programs, mobile data traffic surged 355% on a YoY basis. Non-mobile portfolio also continues to witness healthy growth on back of investments in home passes and HD content. Aggressively expanding 4G capacities and continuing to offer highest data speeds to customers remains a key priority for the company, and towards this end, Q1 June 2018 has seen its highest quarterly capex spends of Rs 7887 crore. The firm's investments have led to some opex headwinds in this quarter but the firm remains focused on structural cost containment through "War on Waste" program. With consolidation largely done, the secular opportunity of the Indian telecom market continues to excite the company and it remains committed to offer best-in-class services to all consumers.
Bharti Airtel is a leading global telecommunications company with operations in 16 countries across Asia and Africa.
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