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New Delhi, <keyword id="363206" type="General" weightage="20" keywordseo="airtel-africa" source="Orion">Airtel Africa</keyword> on Thursday reported a loss of USD 151 million (about Rs 1,237 crore) for June quarter 2023-24. In the year-ago period, it logged a profit of USD 178 million, a company statement said. Revenue in constant currency terms grew 20.4 per cent year-on-year to USD 1,377 million in the first quarter of the current fiscal, it said. "Despite the strong operating performance, our results have been impacted by foreign exchange headwinds. This quarter saw the announcement of the change to the forex market in Nigeria, which resulted in a significant naira devaluation," Airtel Africa Chief Executive Officer Olusegun Ogunsanya said. She added that the company has "welcomed this reform as very positive" for the medium and long-term development of their business in Nigeria, calling it their "largest market". Airtel Africa's mobile services revenue in April-June period grew 19 per cent in constant currency terms, driven by 12 per cent rise in revenue from voice calls and data revenue growth of 30 per cent, the company stated. Capital expenditure for the company was flat at USD 140 million as compared to the year-ago period as it "continued to invest for future growth", it added.

Airtel Africa reports $151 million loss in Q1 2023-24

<keyword id="363206" type="General" weightage="20" keywordseo="Airtel-Africa" source="Orion">Airtel Africa</keyword> has reported a revenue growth of 20.6 per cent for the year FY22, to $4,714 million, and 17.8 per cent for Q4FY22. <keyword id="15491" type="General" weightage="20" keywordseo="Airtel" source="Orion">Airtel</keyword> Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries primarily in East Africa and Central and West Africa. Constant currency underlying revenue grew 23.3 per cent for the year and 19.1 per cent in Q4. Constant currency underlying revenue growth was strong in all regions -- Nigeria up 27.7 per cent, East Africa up 22.7 per cent and Francophone Africa up 17.2 per cent and across all key services, with revenue in voice up 15.4 per cent, Data up 34.6 per cent and Mobile Money up 34.9 per cent. Further, profit after tax grew by 82.0 per cent to $755 million. The Board recommended a final dividend of 3 cents per share, making total dividends at 5 cents per share for the entire fiscal. Segun Ogunsanya, Airtel Africa Chief Executive Officer, said: "This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets." The company has delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling it to continue to invest in it's network and services and expand distribution, as well as strengthening balance sheet and increasing returns to shareholders. "We are connecting more customers in new and existing coverage areas and driving usage levels and ARPUs to new highs. We have successfully executed on a number of strategic initiatives in the year, with tower sales completed in four countries, $550m of minority investments secured for our mobile money business and a successful buyout of minorities in our Nigerian operation." SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q4-fy22-profit-revenue-subscriber-growth/articleshow/91374478.cms">Reliance Jio reports its strongest profit growth in five quarters as it offloads millions of low quality subscribers</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">Foreign investors have pulled out ₹1.5 lakh crore from the Indian markets in 2022 so far — here's why</a> <a href="https://www.businessinsider.in/business/telecom/news/what-is-the-impact-of-new-vpn-guidelines-on-users-and-vpn-providers/articleshow/91468069.cms">Indian government's VPN guidelines will impact over 270 million users as VPN providers have no option but to leave the country</a>

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

Telecom operator <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>'s consolidated net profit fell 2.8 per cent during Q3FY22 to Rs 830 crore on a year-on-year basis. In the same quarter of the previous fiscal, the consolidated net profit of the company stood at Rs 854 crore. On the other hand, the total revenues during Q3FY22 grew 12.6 per cent to Rs 29,867 crore, as against Rs 26,518 crore in the same quarter last fiscal. Besides, EBITDA grew 22.4 per cent to Rs 14,905 crore, against Rs 12,178 crore reported in the same quarter last fiscal. "We have delivered another quarter of sustained performance across all our business segments... The recent tariff revision for mobile services has gone down well and we are exiting the quarter with an industry leading ARPU of Rs 163," said Gopal Vittal, MD and CEO, India and South Asia in a statement. The full impact of the revised mobile tariffs, however, will be visible in the fourth quarter, he said. "Our Enterprise, Homes and Africa business continue to deliver strongly, with steady increase in contribution to the overall mix of the portfolio. Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of our spectrum liabilities to the government thereby reducing the interest burden." Furthermore, Google's recent investment in the company is a strong validation of <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword>'s role in being a leading pioneer of India's digital revolution, the statement said. "Our emerging digital services portfolio across Airtel IQ, AdTech, digital market place, Nxtra and digital banking positions us well to build an Airtel of the future," he added. Headquartered in India, Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-laptop-inches-closer-to-launch-could-be-powered-by-windows-10-and-an-arm-processor/articleshow/89400900.cms">Jio laptop inches closer to launch, could be powered by Windows 10 and an ARM processor</a> <a href="https://www.businessinsider.in/business/telecom/news/30-day-monthly-recharge-plans-for-prepaid-users-now-as-per-trai/articleshow/89173110.cms">Prepaid mobile users may get to do one less recharge a year, but savings are not assured</a>

Bharti Airtel reports 12.6% increase in revenue, ARPU up by 6.5%

<keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> on Friday reported a fall of 8.8 per cent in its net profit on a year on year (YoY) basis at $88 million for the quarter ended September. The company's revenue for the period under review was $965 million compared with $844 million earned during the July-September quarter of the last financial year. In a statement, the company said that its <keyword id="445843" type="PERSON" weightage="20" keywordseo="customer-base">customer base</keyword> grew by 12.0 per cent to $116.4 million during the quarter. <keyword id="702372" type="PERSON" weightage="20" keywordseo="Raghunath-Mandava">Raghunath Mandava</keyword>, CEO of <keyword id="15491" type="DOMAIN" weightage="20" keywordseo="Airtel">Airtel</keyword> Africa, said: "The first half of our fiscal year included the peak impact of the COVID-19 pandemic in the countries where we operate in, as <keyword id="8960115" type="UNKNOWN" weightage="20" keywordseo="lockdown-measures">lockdown measures</keyword> were swiftly implemented to stem the initial spread of the contagion." He noted that in these unprecedented times, the telecom industry has emerged as a key and essential service for these economies, allowing customers to work remotely, reduce their travels, keep them connected, and allow access to affordable entertainment. "In these exceptional circumstances, in the first half, we delivered a strong set of results and as lockdown restrictions eased during Q2 our performance continued to improve with constant currency revenue growth of 19.6 per cent, up 6.6 per cent from the prior quarter," the CEO said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/trump-calls-india-china-and-russia-filthy-while-justifying-exit-from-paris-agreement/articleshow/78821267.cms" data-type="tilCustomLink">Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement</a> <a href="https://www.businessinsider.in/science/health/news/gileads-remdesivir-just-got-the-first-fda-approval-to-be-used-as-a-treatment-for-coronavirus-patients/articleshow/78818920.cms" data-type="tilCustomLink">Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-cipla-zydus-cadila-dr-reddy-laboratories-tech-mahindra-avenue-supermarts-cochin-shipyard-and-others/articleshow/78820314.cms" data-type="tilCustomLink">Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others</a>

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

New Delhi, May 20 () UNICEF has entered into a partnership with Airtel Africa to provide children with access to remote learning and enable access to cash assistance for their families via mobile cash transfers amid the coronavirus pandemic, the telecom company said on Wednesday. Airtel Africa will 'zero-rate' select websites hosting educational content, which will provide children with remote access to digital content at no cost. Under this pact, UNICEF and Airtel Africa will use mobile technology to benefit an estimated 133 million children currently affected by school closures in 13 countries across sub-Saharan Africa during the COVID-19 pandemic, Airtel Africa said in a statement. "UNICEF announced a new partnership with Airtel Africa aimed at providing children with access to remote learning and enable access to cash assistance for their families via mobile cash transfers," it said. The adverse effects of school closures on children's learning are well-documented, and experts warn that gains made in increasing access to learning in the previous decade are at risk of being lost, or even reversed completely. For poor households, the pandemic means a reduced or total loss of income due to the movement restrictions in place. "Remote learning, supported by digital tools, is a core part of UNICEF's response to ensure continuity of learning for those children with access to technology at home," the statement pointed out. The partnership will also provide UNICEF with a means to facilitate vital cash assistance to alleviate financial barriers for vulnerable families across the region, including many affected by the growing socio-economic hardships resulting from suspension of income earning activities, in the wake of the pandemic. This will help ensure families have additional resources to cope with the ongoing health and economic crisis due to the COVID-19 pandemic, it said. "COVID-19 is affecting access to information and education at an unprecedented scale," Fayaz King, UNICEF Deputy Executive Director for Field Results and Innovation, said adding that UNICEF is partnering with Airtel Africa to deliver better outcomes for children and families affected by widespread closures. The partnership aims to benefit children and families in 13 nations in sub-Saharan Africa. These include Chad, Congo, Democratic Republic of the Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Rwanda, Tanzania, Uganda and Zambia. Airtel Africa Chief Executive Officer Raghunath Mandava said, "Some effective ways to cushion families from the effects of this crisis is through providing free Internet access to selected educational websites to help children keep up with their learning during the school closures and direct cash transfer programmes to reduce physical presence requirements for cash in hand exchanges." MBI HRS

UNICEF, Airtel Africa team up to support children, families affected by COVID-19

<ul><li><keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> has posted a loss of ₹2,866 crores for Q1 FY20.</li><li>The Average Revenue Per User stood at ₹129. </li><li>In May 2019, Reliance Jio overtook Airtel to be the second largest telecom network provider in terms of user base</li></ul>Bharti Airtel has posted a loss of ₹2,866 crores for the first quarter of the current financial year. In the same quarter last year, Airtel had posted a profit of ₹97 crore. However, the company also reported a consolidated total revenue of ₹20,738 crore, which is up by 4.7% since last year. The company which has telecom operations across Africa and India, registered better in the former. Its India revenues grew marginally by 2.8%, while its African revenues went up by 10.2%. The company’s net debt now stands at ₹1,16,646 crore. Its average revenue per user or APRU which is the amount the telecom major makes per customer, stood at ₹129. The company however said that mobile data traffic growth grew by 94% since last year. “The first quarter of the year has begun with a healthy and equitable growth across all our lines of businesses. Headline pricing remained stable, albeit at low levels,” said Gopal Vittal, MD and CEO, India &amp; South Asia. The total number of employees have also gone up from 21,434 in June 2018 to 19,490 by the end of June 2019. The company said that it is working on improving network coverage. “We re-farmed spectrum from 3G networks to 4G across both the 900 as well as 2100 bands and begun the process of shutting down 3G networks in India. This has enabled us to deliver improved indoor coverage as well as enhance our capacities,” said Vittal. Airtel has been dealing with the rising pressure from Mukesh Ambani’s Reliance Jio. In May 2019, Reliance Jio overtook Airtel to be the second largest telecom network provider in terms of user base, whereas in terms of revenue it has already overtaken Vodafone Idea to hold the number uno position. Airtel lost 1.5 million users in May alone – it went from 321.8 million users in April to have 320.3 million. Its total consumer base stands at 404 million across 16 countries.

Airtel posts a massive net loss of ₹2,866 crore, as pressure from Reliance Jio rises

New Delhi, Jan 28 () Bharti Airtel's Africa unit, Airtel Africa, on Tuesday posted about 21 per cent fall in net profit for the third quarter ended December 2019 at USD 103 million (around Rs 735 crore).
 Airtel Africa said that the group's parent company has raised USD 3 billion in capital through a mix of of qualified institutional equity placement and convertible bond offerings.
 The firm also said that these activities have "reduced the level of uncertainty about the ability of the group's intermediate parent company to comply" with the recent Supreme Court judgement on statutory dues.
 "As a result, the directors have concluded that the previously highlighted material uncertainty around the group's ability to continue as a going concern no longer exists and that the group has adequate committed and non-committed facilities to operate as a going concern," it added.
 Airtel Africa's net profit for quarter ended December 2019 was 20.9 per cent lower in constant currency terms at USD 103 million on a year-on-year basis.
 However, the revenue for the quarter at USD 883 million was 14.2 per cent higher (on constant currency basis) and 12.8 per cent higher (on reported basis), helped by broad-based growth across voice, data and mobile money. 
 The difference between reported currency and constant currency growth rates is on account of currency movements.
 "Revenue increased by 9.9 per cent to USD 2,522 million for the nine-month period ended December 31, 2019, with Q3 FY20 revenue growth increasing to 12.8 per cent," the statement added.
 Growth was recorded across all services, with revenue in voice, data and mobile money up by 3.9 per cent, 39 per cent and 40.4 per cent, respectively, in constant currency.
 Airtel Africa CEO Raghunath Mandava said, "Revenue growth accelerated in Q3 to 14.2 per cent as a result of improved performance in the Rest of Africa, supported by solid results in Nigeria and East Africa. This is now the eighth consecutive quarter that we have delivered double digit revenue growth and EBITDA margin expansion in constant currency."
 In its financial review, the company noted that the total tax charge for the period was USD 170 million, as compared to a tax credit of USD 111 million in the same period last year, as a result of higher operating profit and withholding tax on dividends, as Airtel Nigeria - its largest and most profitable market - declared a first dividend.
 "In addition, the prior year period benefitted from one-off items which included deferred tax recognition in Nigeria of USD 170 million and a reversal of tax provision of USD 55 million," it said.
 The results come at a time when, back home, telecom companies owe the government Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.
 These liabilities arose after the Supreme Court in October last year held that non-core revenues have to be considered for calculating statutory dues. In the case of Bharti Airtel, the liabilities added up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the spectrum usage charge dues (not including the dues of Telenor and Tata Teleservices).
 Bharti Airtel, Vodafone Idea Ltd, and Tata Teleservices have, meanwhile, jointly filed a modification application in the Supreme Court asking for more time to pay the statutory dues. MBI MBI ANS
ANS

Airtel Africa Q3 net profit slumps nearly 21 per cent

New Delhi, Jan 28 () Africa business arm of Bharti Airtel on Tuesday said recent USD 3 billion fund raised by the parent firm reduced uncertainty over business continuity after the Supreme Court ordered telcos to clear statutory dues as calculated by the government.
Airtel Africa in its quarterly report said the group's intermediate parent company has successfully raised approximately USD 3 billion of additional capital through a combination of qualified institutional equity placement and convertible bond offerings.
"In the Director's opinion the execution of these activities has reduced the level of uncertainty about the ability of the Group's intermediate parent company to comply with the judgement.
"As a result, the Directors have concluded that the previously highlighted material uncertainty around the Group's ability to continue as a going concern no longer exists," Airtel Africa said.
It added that the group has adequate committed and non-committed facilities to operate as a going concern.
Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues.
In the case of Bharti Airtel, the liabilities added up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the SUC dues (not including the dues of Telenor and Tata Teleservices).
Bharti Airtel and Airtel Africa had raised concern over continuity of their business in light of AGR dues that the group has been asked to pay to the government. PRS BAL

Recent USD 3 bn fund raising reduces risk on business continuity: Airtel Africa

New Delhi, May 13 () Airtel Africa on Wednesday posted 13 per cent drop in net profit for March quarter at USD 77 million (nearly Rs 581 crore) and said it would be difficult to precisely forecast the impact of COVID-19 on customers and business, since the spread of coronavirus in Africa has lagged the rest of the world.The company, in a statement, however emphasised that it is entering "this period of increased volatility" on a strong financial footing and its view on the medium-term opportunities across its footprint has not changed, as markets will continue to benefit from strong population growth and need for increased connectivity and financial inclusion.Airtel Africa's net profit for the just ended quarter came in at USD 77 million, 12.8 per cent lower compared to the year-ago period when seen on reported currency basis and 6.2 per cent lower in constant currency terms.The difference between reported currency and constant currency growth rates is due to currency movements with reference tothe US dollar rate.Profit attributable to parent company shareholders stood at USD 65 million (over Rs 489 crore), almost 22 per cent lower than the year-ago period.The revenue for March quarter which included income from voice, data, mobile money, and other revenue was 15.1 per cent higher (almost 18 per cent higher in constant currency terms) year-on-year at USD 899 million (over Rs 6,700 crore).The company noted that more recently, the markets where it operates have begun to be impacted by COVID-19 and the related actions that governments have implemented to reduce the risk of the contagion. The company's priority in such times has been to keep employees, suppliers and customers safe while supporting communities.Raghunath Mandava, chief executive officer of Airtel Africa said, "telecoms businesses provide strategically essential services to ensure the functioning of economies and communities and are, therefore, more resilient compared to some other sectors". In Africa, the spread of the COVID-19 has lagged the rest of the world and, therefore, it is difficult to precisely forecast what the impact of this will be on customers and business, he added. "However, our performance during the month of April has been resilient as the business continued to deliver constant currency revenue growth, although at a lower rate," he said.The company enters this period of increased volatility in a strong financial position and its view on the medium-term opportunities across its footprint has not changed, as these markets will continue to benefit from strong population growth and the need for increased connectivity and financial inclusion, he added.For the year ended March 2020, profit after tax stood at USD 408 million (Rs 3,076 crore), 4.4 per cent lower than the previous year. The revenue at USD 3,422 million (Rs 25,767 crore) for FY20 was 11.2 per cent higher than last year.Its customer base was up 11.9 per cent to 110.6 million."These results also demonstrate the strength and resilience of our business and the effectiveness of our strategy – with all three business services, voice, data and mobile money, contributing to revenue growth. "We have also continued to invest in future growth opportunities as we expanded our distribution, modernised and expanded our network with 65 per cent of sites now on 4G, acquired new spectrum in Nigeria, Tanzania, Malawi and Chad, and entered into strategic partnerships in our mobile money business," Mandava said. MBI ANUANU

Airtel Africa Q4 profit dips 13%; says mid-term opportunity unchanged, despite rising volatility

New Delhi, Jul 6 () Wireless revenues of telecom companies Bharti Airtel and Vodafone Idea Ltd (VIL) are expected to fall during the first quarter of current fiscal on account of the nationwide lockdown, according to a report by Emkay Global. The lockdown, imposed to combat the coronavirus pandemic, led to delayed recharges, fewer subscriber additions, and absence of international roaming revenues for telcos. "Wireless revenues for Bharti and VIL shall fall in Q1FY21 due to the nationwide lockdown, which resulted in delayed recharges by low ARPU (Average Revenue Per User) prepaid subscribers on account of the reverse labour migration and impact on income levels, minimal subscriber additions, SIM consolidation, and absence of international roaming revenues," Emkay Global said in its sector update. APRU is expected to decline sequentially in Q1 of 2020-21 after healthy growth in the preceding quarter (Q4FY20), it added. "Bharti and VIL are likely to see five per cent quarter on quarter fall in ARPU. Home broadband to see a healthy increase in new connections, boosted by the lockdown. Airtel Africa should perform well as the impact of COVID-19 was minimal," it said. It expects moderation in subscriber additions due to lack of smartphone sales in April and early May. "In fact, reverse migration could lead to subscriber loss for the industry due to delayed or no recharges," Emkay Global said. It expects decline in subscriber base of Bharti and VIL, with a more pronounced subscriber loss for the latter. Both operators are likely to see minimal increase in data subscribers. It, however, anticipates subscriber addition in case of Reliance Jio on account of market share gains. Data consumption for all three private operators is estimated to rise by 10-12 per cent sequentially, driven by underlying increase even as new subscriber additions are expected to remain muted. Cost savings are seen accruing from marketing, channel margins (lower gross additions and increased digital recharges) and other costs, whereas network opex shall continue to rise on increased utilisations. There could be some provisions on delayed payments in the enterprise segment for Bharti and VIL, it pointed out. Reported finance cost could be lower based on moratorium on both deferred spectrum payment and bank loans, it added. MBI RVK

Bharti Airtel, VIL mobile revenues to fall in Q1 due to lockdown: Report

(Eds: Adding details) New Delhi, Feb 4 () Telecom operator Bharti Airtel on Tuesday posted a consolidated loss of Rs 1,035 crore for the three months ended December 31, 2019, as the AGR-hit telco provisioned for interest component of its statutory dues.December Q3 scorecard marked the third straight quarter of losses for the company, which had logged a net profit of Rs 86 crore a year ago. The company also said the previously reported material uncertainty on the group's ability to continue as a going concern "no longer exists" after the recent Rs 21,502 crore fund raising by it."The net exceptional charge of Rs 10,500 million (Rs 1,050 crore) during the quarter ended December 31, 2019 comprises of a charge on account of interest on the provision of license fee and spectrum usage charges recorded in the quarter ended September 30, 2019 of Rs 10,481 million pending disposal of the modification application before the Supreme Court," Airtel said.Other elements included accelerated depreciation on 3G network equipment/operating costs on network re-farming and up-gradation programme, it added.The Supreme Court, in October last year, had upheld the government's position on including revenue from non-core businesses in calculating the annual AGR of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer.Bharti Airtel's liabilities added up to nearly Rs 35,586 crore, including licence fee and spectrum usage charge dues.It may be recalled that for September quarter, Airtel had posted a staggering Rs 23,045 crore net loss, after provisioning of Rs 28,450 crore on account of Supreme Court ruling on past dues.For just ended December quarter, Airtel's consolidated revenues came in at Rs 21,947 crore, up 8.5 per cent over the same period previous year. The India revenues for Q3 FY20 stood at Rs 15,797 crore, 7 per cent higher over same period previous year, while Africa revenues were up 14.2 per cent.Shares of Airtel closed 1.72 per cent higher on the BSE on Tuesday at Rs 519.10 apiece. The company announced results after the close of the market hours.The company said that consolidated mobile data traffic on network grew 73 per cent year-on-year. The company logged the "highest ever" 4G subscriber additions during the quarter at about 21 million, and benefited from up to 50 per cent tariff hike - call and data charges - it had announced in early December.Its average realisation from subscribers (Average Revenue Per User or ARPU) improved to Rs 135 in December from Rs 128 in the previous sequential quarter.Bharti Airtel CEO - India and South Asia, Gopal Vittal said that while the tariff revision undertaken in December 2019 is a welcome step towards repairing the financial health of the industry, the company believes that tariffs must go up further for enabling the industry to invest in emerging technologies.In a statement, Airtel said: "Mobile revenues have witnessed a year-on-year growth of 9.6 per cent led by a strong focus on quality customers, up-trading and in some part benefitted by the recent tariff actions, although the full impact of the tariff actions is yet to be seen".Mobile 4G data customers increased by about 60.6 per cent to 123.8 million as compared to corresponding quarter last year.The consolidated net loss before exceptional items for December quarter stood at Rs 1,080 crore, while the loss after exceptional items for the quarter was Rs 1,035 crore.The company noted that in the previous quarter, the group had recorded as a liability/provision of Rs 34,260 crore as on September 30, 2019 on account of the Supreme Court verdict on Adjusted Gross Revenue (AGR) dues."These judgements/orders have significant financial implications on the Group," Airtel said, adding that the telecom operators have filed an application for modification petition in the apex court, which is pending for disposal.Airtel said that it has recently raised Rs 21,502 crore through a combination of fresh equity issuance via qualified institutional placement and issue of convertible bonds and post the fund raising, "the management has concluded that the previously reported material uncertainty on the group's ability to continue as a going concern no longer exists".As many as 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.Vodafone Idea -- which is staring at unpaid statutory dues of Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee -- has already warned of shutdown if no relief is given.Most of the remaining liability is with state-owned BSNL/MTNL and some of the shut/bankrupt telecom companies.Reliance Jio, last month, has reported 62.5 per cent jump in its net profit for the December quarter at Rs 1,350 crore. PRS MBI BAL

Airtel Q3 loss at Rs 1,035 crore after interest provisioning on AGR dues

New Delhi, Nov 14 () Telecom operator Bharti Airtel on Thursday posted a staggering Rs 23,045 crore net loss for the second quarter ended September 30, due to provisioning of Rs 28,450 crore in the aftermath of the Supreme Court ruling on statutory dues.
The Sunil Mittal-led company said the apex court judgement -- which had upheld government's way of calculating revenue of telcos (on which statutory liabilities like licence fee and spectrum usage charges are computed) -- has "significant financial implication for the company".
Last month, Bharti Airtel had postponed the release of its full Q2 earnings to November citing the uncertainty in the sector in the wake of the court ruling on definition of telecom revenues.
Airtel's colossal net loss for just-ended September quarter was on account of exceptional charge pertaining to provisioning of Rs 28,450 crore towards the AGR dues, that included principle of Rs 6,164 crore, interest of Rs 12,219 crore, penalty of Rs 3,760 crore, and interest on penalty of Rs 6,307 crore.
Announcing its Q2 earnings scorecard, Airtel said its consolidated net loss before exceptional items (the one time charge) for the quarter was Rs 1,123 crore, and that the net Loss (after exceptional items) was Rs 23,045 crore.
The company had recorded net profit of Rs 119 crore in the same quarter previous year, although it said that year-on-year numbers were not comparable due to adoption of new accounting standard.
"...the liabilities / provisions as at September 30, 2019 aggregate Rs 34,260 crore (comprising of principal of Rs 8,747 crore, interest of Rs 15,446 crore, penalty of Rs 3,760 crore and interest on penalty of Rs 6,307 crore)," Airtel said in a statement.
Airtel CEO, India and South Asia, Gopal Vittal hoped that the government will take a considerate view on the adjusted gross revenue (AGR) matter given the "fragile state of the industry".
"On the AGR verdict of the Supreme Court, we continue to engage with the government and are evaluating various options available to us," he said.
The consolidated revenue of Bharti Airtel was up by 4.7 per cent at Rs 21,199 crore in the just-ended quarter. India revenues were up 3 per cent year-on-year (5.7 per cent on an underlying basis), while Africa revenues rose 12.6 per cent over the same period previous year.
"India revenues for Q2 at Rs 15,361 crore have increased by 5.7 per cent year on year (reported increase of 3 per cent) on an underlying basis. Mobile revenues have witnessed a year-on-year growth of 7.1," it added.
Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) came in at Rs 8,936 crore in the Q2 FY2020 against Rs 6,343 crore in the year ago period.
The Supreme Court, last month, had upheld the government's position on including revenue from non-telecommunication businesses in calculating the annual AGR of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer. Old telecom operators Bharti Airtel and Vodafone Idea were supposed to take the maximum hit on the payment of statutory dues to the government.
As per latest estimates by the telecom department, Bharti Airtel faces a liability of around Rs 62,187 crore (including share of Tata Group of companies and Telenor India), while Vodafone Idea may have to pay about Rs 54,184 crore. The remaining liability is with state-owned BSNL/MTNL and some of the shut/bankrupt telecom companies.
The Supreme Court has allowed three months to the affected telcos to pay amounts due to the DoT, and on Wednesday the government shot off notice to telecom operators to pay their revenue share dues within the timelines stipulated by the court. The department has given option to telecom operators to clear all the dues on self-assessment basis.
Airtel's net debt narrowed year on year basis to Rs 1,18,106.5 crore. 
"Despite being a seasonally weak quarter, we witnessed positive revenue growth in Q2 on the back of various initiatives aimed at providing superior differential services through our 'Thanks' platform. We continue to witness strong data traffic growth of about 81 per cent year-on-year and added about 8 million 4G customers on our network during the quarter," Vittal said. 
Bharti Airtel shares closed at Rs 362.65 apiece, down by 1.59 per cent compared to previous close on the BSE.
The results were announced after market hours. PRS MBI BAL

Bharti Airtel posts staggering Rs 23,045 cr net loss in Q2 after AGR provisioning

With millions of people across five continents experiencing scorching heat last month, the European Union's (EU) climate agency, Copernicus <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">Climate Change</keyword> Service (C3S), confirmed on Monday that June was the warmest on record. It also marked the 12th consecutive month of <keyword id="20524196" type="General" weightage="20" keywordseo="global-temperatures" source="keywords">global temperatures</keyword> reaching <keyword id="22325521" type="General" weightage="20" keywordseo="1-5-degrees-Celsius" source="keywords">1.5 degrees Celsius</keyword> above the pre-industrial average. According to scientists at C3S, every month since June last year has been the warmest such month on record. In January, the world completed an entire year with the mean surface air temperature exceeding the 1.5-degree Celsius threshold. June was the 12th consecutive month with monthly average temperatures above the 1850-1900 pre-industrial average. At the 2015 UN climate talks in Paris, world leaders committed to limiting the global average temperature rise to 1.5 degrees Celsius above the pre-industrial period to avoid the worst impacts of climate change. However, a permanent breach of the 1.5-degree Celsius limit specified in the <keyword id="20104670" type="General" weightage="20" keywordseo="Paris-Agreement" source="keywords">Paris Agreement</keyword> refers to long-term warming over a 20 or 30-year period. Earth's global surface temperature has already increased by around 1.2 degrees Celsius compared to the average in 1850-1900 due to the rapidly-increasing concentration of <keyword id="20649149" type="General" weightage="20" keywordseo="greenhouse-gases" source="keywords">greenhouse gases</keyword> -- primarily carbon dioxide and methane -- in the atmosphere. This warming is considered to be the reason behind record droughts, wildfires and floods worldwide. According to new data, June 2024 was the warmest on record, with an average surface air temperature of 16.66 degrees Celsius, 0.67 degrees Celsius above the 1991-2020 average for the month and 0.14 degrees Celsius above the previous high set in June 2023. "The month was 1.5 degrees Celsius above the estimated June average for 1850-1900, the designated pre-industrial reference period, making it the 12th consecutive month to reach or break the 1.5-degree threshold," C3S said in a statement. It was also the 13th consecutive month of <keyword id="21477127" type="General" weightage="20" keywordseo="record-high-temperatures" source="keywords">record-high temperatures</keyword>, a result of the combined effect of the 2023-24 El Nino event and human-caused climate change. While unusual, a similar streak of monthly global temperature records happened previously in 2015-16. "This is more than a statistical oddity and highlights a large and continuing shift in our climate. Even if this specific streak of extremes ends at some point, we are bound to see new records being broken as the climate continues to warm. This is inevitable, unless we stop adding greenhouse gases into the atmosphere and the oceans," said Carlo Buontempo, the director of C3S. The European climate agency said the global average temperature for the last 12 months (July 2023-June 2024) is the highest on record, at 0.76 degrees Celsius above the 1991-2020 average and 1.64 degrees Celsius above the 1850-1900 pre-industrial average. The world's sea surface in June was also the highest ever recorded for the month. Several countries experienced record-breaking heat and devastating floods and storms in June. According to an analysis by Climate Central, an independent group of scientists and communicators based in the United States, more than 60 per cent of the world population faced extreme heat that was made at least three times more likely by climate change during June 16-24. Climate Central said the blistering heat in June impacted 619 million (61.9 crore) people in India, 579 million (57.9 crore) in China, 231 million (23.1 crore) in Indonesia, 206 million (20.6 crore) in Nigeria, 176 million (17.6 crore) in Brazil, 171 million (17.1 crore) in Bangladesh, 165 million (16.5 crore) in the US, 152 million (15.2 crore) in Europe, 123 million (12.3 crore) in Mexico, 121 million (12.1 crore) in Ethiopia and 103 million (10.3 crore) in Egypt. According to the India Meteorological Department (IMD), northwest India recorded its warmest June since 1901. India, which experienced one of its hottest and longest heatwaves, recorded more than 40,000 suspected heatstroke cases and over 100 heat-related deaths. The intense heat overwhelmed the water supply system and power grids, with Delhi grappling with a severe water crisis. According to the IMD, 11 states recorded 20 to 38 heatwave days -- up to four times the usual number of such days -- during the April-to-June period. The mercury breached 50 degrees Celsius in parts of Rajasthan, with night temperatures hovering around 35 degrees Celsius in many places. Temperatures were most above average over eastern Canada, the western United States and Mexico, Brazil, northern Siberia, the Middle East, northern Africa, and western Antarctica. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

You Searched For "Airtel Africa results" and got 13 results

Airtel Africa reports $151 million loss in Q1 2023-24

PTI

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

IANS

Bharti Airtel reports 12.6% increase in revenue, ARPU up by 6.5%

IANS

Airtel Africa Q2 net profit slumps 9% amid coronavirus woes

IANS

UNICEF, Airtel Africa team up to support children, families affected by COVID-19

PTI

Airtel posts a massive net loss of ₹2,866 crore, as pressure from Reliance Jio rises

Sanchita Dash

Airtel Africa Q3 net profit slumps nearly 21 per cent

PTI

Recent USD 3 bn fund raising reduces risk on business continuity: Airtel Africa

PTI

Airtel Africa Q4 profit dips 13%; says mid-term opportunity unchanged, despite rising volatility

PTI

Bharti Airtel, VIL mobile revenues to fall in Q1 due to lockdown: Report

PTI

Airtel Q3 loss at Rs 1,035 crore after interest provisioning on AGR dues

PTI

Bharti Airtel posts staggering Rs 23,045 cr net loss in Q2 after AGR provisioning

PTI

June warmest on record; every month since July 2023 breached 1.5 deg C threshold

PTI

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