By Kosaku Narioka
Bharti Airtel Ltd. (532454.BY) reported results for the third quarter ended December late Tuesday. Here is what you need to know:
NET LOSS: The Indian telecom company swung to a net loss of 10.35 billion rupees ($145.2 million) in its third quarter, higher than the estimated net loss of INR7.86 billion from a FactSet poll of analysts.
REVENUE: Third-quarter revenue, excluding other income, rose 8.5% from a year earlier to INR219.47 billion, which exceeded the FactSet estimate of INR217.42 billion.
WHAT WE WATCHED:
--INDIA: Its India mobile services business posted an operating loss of INR8.25 billion, smaller than the INR18.95 billion loss a year earlier. Revenue increased 9.6% for the segment to INR111.65 billion.
--AFRICA: Operating profit increased 28% for its African mobile services business to INR17.45 billion. Revenue increased 12% for the segment to INR62.70 billion.
--SPECIAL CHARGE: The company recorded a INR10.48 billion special charge as part of its obligations under the recent Supreme Court judgment. In October, the court ruled that telecom companies operating in the country need to pay billions of dollars to the government in a dispute over licensing fees.
Write to Kosaku Narioka at email@example.com