Bharti Airtel Q2 net drops 28 per cent

Bharti Airtel reported a 13 per cent rise in the second quarter net profit at Rs 2,321 crore as cheap call rates offered by competitors and rising number of low-tariff customers pulled down the rate of growth.

Bharti Airtel reported a 13 per cent rise in the second quarter net profit at Rs 2,321 crore as cheap call rates offered by competitors and rising number of low-tariff customers pulled down the rate of growth.

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Airtel's consolidated revenue grew nine per cent year- on-year to Rs 9,846 crore. It added 82.44 lakh subscribers against 85 lakh users in the first quarter.

The EBITDA margin, a key reflector of profitability, was 42.1 per cent, compared with 41 in the year-ago quarter. Profit fell 8 per cent quarter-on-quarter.

Shares of the company hit the one-year low during the day, to finish at 292 points — 6.4 per cent down — as the company said that such pressures could impact company top or bottomline.

“In the near term, we are ready to face the challenges posed by heightened competition,” Chairman Sunil Mittal said in the statement.