Bharti Airtel posts Rs 1,035 cr loss in Q3 FY20

Telecom operator Bharti Airtel on Tuesday posted a consolidated loss of Rs 1,035 crore for third quarter ended December 31, 2019. company had recorded a profit of Rs 86 crore a year ago. company's revenue, however, increased by 8.5 per cent to Rs 21,947 crore for December quarter compared to Rs 20,231 crore in same period last year."While tariff revision undertaken in December 2019 is a welcome step towards repairing financial health of industry, we believe tariffs must go up furr for enabling industry to invest in emerging techlogies," Gopal Vittal, MD and CEO, India & South Asia, Bharti Airtel said in a statement.

Highest ever net loss

Bharti Airtel India revenue rose seven per cent to 15,797 crore, compared to same period of 2018-19. For second quarter ended September 2019, Bharti Airtel had posted its highest ever net loss of 23,045 crore after provisioning of Rs 28,450 crore on account of Supreme Court ruling on statutory dues.