Bharti Airtel has said its net profit has reduced by nearly 28 per cent to Rs 12.15 billion in the quarter ended June 30, 2011. The company?s net profit stood at Rs 16.81 billion in the same period last fiscal.
Total sales increased by over 38 per cent to Rs 169.82 billion in the period under consideration, against Rs 122.85 billion in the same period last year. Income before taxes dropped to Rs 17.19 billion in the first quarter of financial year 2012, from Rs 20.72 billion in the first quarter of financial year 2011, mainly owing to higher interest outgo (Rs 3.44 billion on its Africa acquisition) and 3G investments in India and 3G license fee amortisation (Rs 1.59 billion).
Also, the effective tax rate for the first quarter increased to 29.9 per cent, mainly due to a reduction in tax holiday benefits in the country, which impacted its net profit.
Revenues from airtel?s India and South Asia operations increased by 11.9 per cent year-on-year to Rs 126.31 billion, while Africa revenues stood at $979 million (up by 6 per cent vis-a-vis the fourth quarter of financial year 2011).
The company?s overall customer base stood at 230.8 million across 19 countries.
