Bharti Airtel’s annual consolidated revenues for 2017-18 stood at Rs 836.88 billion, reporting a decline of 12.3 per cent when compared to Rs 954.68 billion in 2016-17. The net income declined by 71 per cent from Rs 38 billion to Rs 10.99 billion.

Meanwhile, the consolidated revenues for quarter-ended March 2018 stood at Rs 196.34 billion, a decline of 10.5 per cent, when compared to Rs 219.35 billion in the corresponding quarter of 2017. The net income declined by about 78 per cent from Rs 3.73 billion to Rs 0.83 billion during the same period.

Consolidated mobile data traffic at 1,616 million MBs in the quarter registered a robust Y-o-Y growth of 505 per cent.

India revenues for the quarter under consideration stood at Rs 147.96, a decline of about 13.1, per cent from an year ago. Mobile data traffic has grown more than 6x to 1,540 billion MBs in the quarter as compared to 225 billion MBs in the corresponding quarter last year.

Revenue from mobile services slipped by 20.2 per cent to Rs 103.53 billion compared to Rs 129.71 billion in the corresponding quarter last year due to continued ARPU contraction. Overall ARPU for the quarter stood at Rs 116 against Rs 158 last year.

During the quarter, Bharti Airtel acquired Tigo Rwanda country operations in Africa. (Financials and operational parameters of the combined entity are part of consolidated results.) In constant currency terms, Africa revenues grew by 10.7 per cent Y-o-Y led by strong growth in data and Airtel money transaction value.

Airtel’s net debt stood at Rs 952.28 billion, as of March 31, 2018.

In a statement, Gopal Vittal, MD and CEO, India & South Asia, said: “The telecom industry continues to witness below cost, artificially suppressed pricing. Industry revenues were further adversely impacted this quarter due to the reduction in International termination rates. Airtel continued to consolidate its leadership position this quarter. Our strategic investments in data capacities, innovative digital content through Airtel TV, customer friendly bundles and upgrade programs led to the highest ever mobile data customer additions of 15 million during the quarter. Usage parameters remained robust– on a YoY basis, we saw data and voice traffic grow 584% and 55% respectively. In line with our goal of building market leading 4G networks, with best in class speeds and capacity; while supporting the Digital India initiative, we have ended the financial year with our highest ever capital expenditure of Rs 240 billion. We intend to continue the rollout momentum next year as well”