MUMBAI, May 2: Bharti Airtel Ltd, a leading integrated telecommunications company, today said its net profit was down by 49 per cent to Rs 509 crore during the January-March quarter, disappointing market expectations.
The telecom major had posted a net income of Rs 1,006 crore in the corresponding quarter of the previous financial year.
The company’s net income was dropped by 46.6 pc to Rs 2,276 crore, as against Rs 4,259 crore reported during the previous fiscal.
With Africa over it’s peak of organic investments, we are optimistic about potential for improved market shares and margin expansions, the company said in a release.
The profit was mainly impacted by higher depreciation & amortisation cost (Rs 5.15 billion), net interest costs (Rs 1.32 billion), dividend distribution tax (Rs 370 million) and higher deferred tax charge due to hike in surcharge (Rs 960 million), the
release added.
(UNI)
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