BHARTI AIRTEL ON Tuesday said its net profit in the OctoberDecember quarter declined 27% sequentiallyto 830 crore (after exceptional items), missing Street estimates. In the preceding quarter, the country's second-largest telecom operator had booked a one-time gain of 1722 crore on account of spectrum sale to Reliance Jio.
Adjusting for this, the net profit in the preceding quarter would have stood at 1594 crore. During the December 2021 quarter, thenet profit before exceptional gain was 807 crore.
Bharti's board on Tuesday approved an enabling provision for a fundraise of up to 7,500 crore through the issuance of various debt instruments to refinance borrowings.
"Our balance sheet is robust and we are now generating healthy free cash flows. This has enabled us to recently prepay some of ourspectrum liabilities to the government, thereby reducing the interest burden," Gopal Vittal,MDand CEO, India and South Asia, said.
This story is from the February 09, 2022 edition of Financial Express Mumbai.
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This story is from the February 09, 2022 edition of Financial Express Mumbai.
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