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Bharti Airtel’s Q3 Financials Struck Hard by Jio Entry

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Bharti Airtel’s Q3 net profit had an adverse effect due to the entry of Reliance Jio, AIrtel’s net profit slumped 55% from a year, net profit of Rs 504 crore for the three months ended December was sharply lower that the average estimate of about Rs 965 crore.

“The quarter has seen turbulence due to the continued predatory pricing by a new operator,” Gopal Vittal, MD and CEO, India & South Asia at Airtel, said in the statement.

“This has led to an unprecedented year-on-year revenue decline for the industry, pressure on margins and a serious impact on the financial health of the sector,” Vittal added. Read more

 

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Sweekar S

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