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Rutuja Nigam made post

Why did Bharti report such a huge loss in the Jun-20 quarter?

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diksha shah answered.
6 days ago

It was another tough quarter for the telecom stocks as Bharti Airtel reported a net loss of Rs.15,933 crore for the Jun-20 quarter. This loss was largely driven by a one-time AGR provision of Rs.11,746 crore. Total revenues for the quarter were up by 15.4% at Rs.23,939 crore. The lockdown meant that Bharti had to compromise on price for higher volumes.

Bharti has been losing market share to Jio for some time now and is now the second largest telecom player in India in terms of market share after Reliance Jio. India had imposed a nationwide ban on movement for a couple of months which had brought economic activity to a virtual standstill. Even as network demand increased from homes, the sharp fall in enterprise revenues took its toll on the telecom business.