Bharti Airtel losses narrow to ₹763 crore in Sept quarter; revenue zoom 22%


The net loss (before exceptional items) for Q2 FY21 was at ₹744 crore, while loss (after exceptional items) stood at ₹763 crore

Telecom operator Bharti Airtel on Tuesday reported substantial narrowing of losses for the second quarter ended September 2020 at ₹763 crore.

The losses were significantly lower than Q2FY20, when it stood at ₹23,045 crore, after the company had made provisions of ₹28,450 crore in the immediate aftermath of the Supreme Court ruling on statutory dues.

The company posted revenues of ₹25,785 crore for the September 2020 quarter, up 22% over the corresponding period last year “with strong growth across the portfolio — geographies and segments”, a company statement said.

The net loss (before exceptional items) for Q2 FY21 was at ₹744 crore, while loss (after exceptional items) stood at ₹763 crore.

In a statement, Gopal Vittal, MD and CEO, India and South Asia, said: “Despite being a seasonally weak quarter, we delivered a strong performance with revenue growing at 22% year-on-year.”

The company stays committed to improving the profitability of business, he asserted.

On Adjusted Gross Revenue (AGR) dues, the Airtel statement said the Group has made a representation to the government that it has already paid more than 10% of the total dues as demanded by the Telecom Department and will ensure ongoing compliance with the Supreme Court’s orders.

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