Bharti Airtel slips into red; posts Rs 5,237 crore loss in Q4

New Delhi: Telecom operator Bharti Airtel on Monday posted a consolidated loss of Rs 5,237 crore for the January-March quarter of 2019-20 fiscal primarily on account of provisions for statutory dues.

The firm had posted a revenue of Rs 107.2 crore in the identical interval a yr in the past.

Bharti Airtel registered consolidated income of Rs 23,722.7 crore throughout the reported quarter. The firm had posted income of Rs 20,602.2 crore in the corresponding quarter of 2018-19.

The firm posted distinctive objects totalling Rs 7,004 crore throughout the quarter ended on March 31, 2020, that contains a cost on account of reassessment of regulatory price.

For the yr ended on March 31, 2020, the corporate posted a internet loss of Rs 32,183.2 crore and a income of Rs 87,539 crore.

For 2018-19, Bharti Airtel had reported a internet revenue of Rs 409.5 crore and income of Rs 80,780.2 crore.

Gopal Vittal, MD and CEO, India & South Asia, of Bharti Airtel mentioned, “These are unprecedented times for everyone across the world as we battle the impact of COVID-19 and its consequent impact on livelihoods”.

He added that telecom has performed an important function in retaining the nation going, and hoped that the federal government will implement the suggestions of the regulator and the intent of the New Telecom Policy and produce down the excessive ranges of regulatory levies and taxes that the sector is subjected to.

Bharti Airtel mentioned the corporate has undertaken a capex funding of Rs 25,359 crore on a consolidated foundation throughout the yr to make sure superior buyer expertise in addition to front-ending some funding to make sure seamless companies throughout the ongoing pandemic. 

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