Country’s largest telco Bharti Airtel on Wednesday reported 2.8 per cent jump in net profit to Rs1,290 crore for the March quarter despite over 25 per cent rise in depreciation and spectrum amortisation expenses. The Sunil Mittal-led company had reported a net profit of Rs1,255 crore in the January-March period of 2014-15. Total revenues of the company rose 8.4 per cent to Rs24,960 crore for the reported quarter as compared to Rs23,016 crore last year.
The company said depreciation and amortisation expenses amounted to Rs4,816.3 crore as compared to Rs3,840.1 crore in the corresponding quarter last year, which reflects an increase of 25.4 per cent, primarily led by incremental depreciation and higher spectrum amortisation expenses in India. For the entire 2015-16, the company's net profit stood at Rs5,484 crore whereas total revenues were to the tune of Rs96,532 crore. The company also announced a buyback up to an aggregate amount not exceeding Rs1,434 crore, at a price of Rs400 per equity share, representing 0.90 per cent of the total paid up equity share capital of the company.
The capital expenditure for the full year was Rs20,591.9 crore, an increase of 10.3 per cent when compared with the previous year. The consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs9,188 crore grew 14.1 per cent Y-o-Y with EBITDA margin expanding by 1.8 per cent to 36.8 per cent, driven by India's margin expansion.
Its India revenues for the quarter, at Rs18,328 crore, grew by 11.7 per cent year-on-year, adjusted for the impact in reduction of termination rates.