Telecom giant Bharti Airtel on Thursday posted a lower-than-expected consolidated net income of Rs 1,400.7 crore (Rs 14 billion) for the quarter ended March 31, 2011, down 31.48 per cent vis-à-vis the same period last year on account of higher cash outflow for its African operations. The company had registered a net profit of Rs 2,044.4 crore (Rs 20.44 billion) in the January-March quarter of the previous fiscal. The total revenue of the company, however, was up by 51.32 per cent at Rs 16,265.4 crore (Rs 162.65 billion) for the March quarter, compared to Rs 10,749 crore (Rs 107.49 billion) in the year-ago period.
"The net income, at Rs 6,047 crore (Rs 60.47 billion), declined by 32.6 per cent from Rs 8,977 crore in the previous year due to increase in net interest outgo (Rs 1,480 crore), forex restatement losses (Rs 683 crore), re-branding expenses (Rs 340 crore) and increase in spectrum charges in India (Rs 265 crore)," the company said.
For the full year, Bharti Airtel's net profit was down 32.64 per cent at Rs 6,046.7 crore (Rs 60.46 billion), compared to Rs 8,976.8 crore (Rs 89.76 billion) in FY'10.
The total revenue for the 2010-11 fiscal stood at Rs 59,467 crore (Rs 594.67 billion), as against Rs 41,847 crore in FY'10, up 42.1 per cent.
The company's average revenue per person (ARPU) stood at Rs 194 in the March quarter, compared to Rs 198 in the December quarter.
The board has recommended a dividend of Re 1 per equity share of Rs 5 each for the financial year 2010-11. Shares of Bharti Airtel fell by 4.65 per cent to an early low of Rs 352.40 on the Bombay Stock Exchange at 0950 hours.
