Bharti Airtel has reported a 38.17 per cent decline in quarterly profit, bringing its consolidated net profit down to Rs 10.27 billion. The decline is owing to higher interest costs and foreign exchange losses worth Rs 2.39 billion.
Last year, Bharti Airtel?s net profit had stood at Rs 16.61 billion, based on international accounting standards.
The operator has said that the rollout of its 3G network resulted in higher amortisation cost of Rs 1.64 billion for the quarter, while its net interest cost rose to Rs 1.15 billion during the reporting period.
On a quarter-on-quarter basis, Bharti Airtel’s net profit for the second quarter declined by 15.49 per cent from Rs 12.15 billion in the June quarter. Total sales increased by 13.38 per cent at Rs 172.70 billion in the second quarter of financial year 2012, as against Rs 152.31 billion in the second quarter of financial year 2011. It has registered EBITDA margins of 33.7 per cent.
