Bharti Airtel’s Q3 net drops 22 percent

New Delhi, Jan 28 (IANS) Bharti Airtel said on Thursday that its net profit dropped 22 percent during the third quarter of 2015-16.

The company clocked net profit of Rs.1,117 crore for the third quarter of 2015-16 compared to Rs.1,436 crore it posted during the corresponding quarter in 2014-15.
“Our focus on acquiring quality customers has resulted in healthy net additions of 8.1 million in mobile. Our strong roll-out of 3G and 4G sites has resulted in acceleration of data usage growth to 73.3 percent along with data ARPU (average revenue per user) reaching Rs.200,” said India & South Asia MD and CEO Gopal Vittal, in a statement.
The company’s revenue grew by 11.6 percent in Q3 on an underlying basis.
“Our smaller businesses continue to perform strongly and grew by 15.1 percent on year-on-year basis in aggregate. We have launched ‘Project Leap’, a network transformation programme, to deliver a truly differentiated customer experience and reinforce our commitment to build a future ready network,” he added.
Regarding its Africa operations, Airtel Africa MD and CEO Christian de Faria said: “Airtel Africa revenues grew 4.6 percent in Q3 on an underlying basis. Data consumption and revenues have grown by 111.6 percent and 40.8 percent respectively year-on-year.”