Airtel Q2 net slips 5% to Rs 1,461 crore

New Delhi, October 25

Telecom major Airtel today posted 4.9% drop in its consolidated net profit at Rs 1,461 crore in the September quarter, mainly on account of increased spectrum related costs and devaluation of Nigerian currency.

“Net interest costs of Rs 1,603 crore have risen from Rs 1,053 crore in the corresponding quarter last year – largely due to increased spectrum related interest costs,” Airtel said. Also, growth of Airtel’s mobile business in India slowed down due to launch of free mobile service by Reliance Jio.

“Overall revenue momentum in India has been sustained during Q2 with a growth of 10.1 per cent Y-o-Y.

India revenues during the quarter ended September 30 grew by 10.1% to Rs 19,219 crore on year-on-year basis. pti