Airtel’s consolidated revenue dropped to Rs19,634.3 crore in the March quarter from Rs21,934.6 crore in the year earlier. Net profit fell to Rs83 crore in the three months ended 31 March from Rs373 crore in the year earlier, India’s largest telecom operator said in a statement on Tuesday. Also, the company recorded a net tax credit of Rs300 crore in Q4, which has inflated the net profit. Airtel has since recorded a fall in net profit for six straight quarters as it reduced prices to compete with Jio. For the year ended 31 March, consolidated revenue fell 9.8% to Rs83,688 crore, the company said, while profit fell 71% year on year to Rs1,099 crore.

Source: Mint April 24, 2018 12:37 UTC