NEW DELHI: telecommunications operator Bharti airtel on Tuesday it reported a substantial reduction in losses for the second quarter ending September 2020 at Rs 763 crore.
Losses were significantly lower than in the second quarter of fiscal 2020, when it stood at 23,045 million rupees, after the company made provisions of 28,450 million rupees immediately after the Supreme Court’s decision on statutory fees. .
The company posted revenue of Rs 25,785 crore for the September 2020 quarter, up 22 percent from the corresponding period last year “with strong growth across the portfolio: geographies and segments,” according to a statement from the company.
The net loss (before exceptional items) for the second quarter of FY21 was Rs 744 crore, while the loss (after exceptional items) stood at Rs 763 crore.
In a statement, Gopal Vittal, MD and CEO, India and South Asia, said: “Despite being a seasonally weak quarter, we performed strongly with revenue growing 22 percent year-on-year.”
The company remains committed to improving business profitability, he said.
On adjusted gross income (AGR) fees, the Airtel statement said the Group has made a statement to the government that it has already paid more than 10 percent of the total fees required by the telecommunications department and will ensure continued compliance. of the Supreme. Court orders.
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