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Airtel Q4 net profit falls to 2,072 cr on devaluation of Nigerian currency
The Morning Standard
|May 15, 2024
BHARTI AIRTEL, country's second largest telecom service provider, reported a dip of 31.1% year-on-year (YoY) in its consolidated net profit to ₹2,072 crore for the March quarter of the financial year 2023-24.
The telco attributed the drop in net profit to the devaluation of African currencies during the period, particularly the Nigerian Naira. Its consolidated revenue grew by 4.4% annually to ₹37,599 crore for Q4FY24. However, its India revenues are up by nearly 13% to ₹28,513 crore for the ai quarter.
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