Bharti Airtel reports Rs 1134 cr net profit in Q2FY22, revenues up 13% yoy

Bharti Airtel Q2FY22 Earnings Results – Bharti Airtel Limited today reported a consolidated net profit of Rs 1134 cr for the quarter ended 30 September 2021 versus the loss of Rs 763.2 cr during the same quarter in FY22. The Profit After Tax (PAT) was down 60 per cent sequentially.

The company had reported a net profit of Rs 283.5 cr in Q1FY22.

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Meanwhile the revenues from operations stood at Rs 28326.4 cr for the reporting quarter versus Rs 25060.4 cr in the year-ago period, which was up 13 per cent.

The other income was marginally up at Rs 108 cr during Q2FY22 as against Rs 103 cr in the July-September 2020 quarter.

The expenses were up at Rs 14515.9 cr versus Rs 13990.7 cr.

During the quarter ended September 30, 2021, global investors invested USD 375 Mn (Rs 27,80.7 cr), subject to customary indemnities, in a secondary purchase of shares in one of the Group’s subsidiaries Airtel Mobile Commerce B.V. (‘AMC BV’) from another subsidiary of the Group (representing non-controlling interest) with a further USD 125 Mn (Rs. 9,270 Mn) to be invested upon meeting the closing conditions. 7. During the quarter ended September 30, 2021, net gain on account of transfer of spectrum right to another telecom operator of Rs. 7,221. Tax charge due to above exceptional items of Rs. 1,817 Mn is included under tax expense. As a result, the overall net exceptional gain (after tax) is Rs. 5,404 Mn.

During the quarter ended September 30, 2021, the Company announced rights issue of upto 392,287,662 partly paid-up equity shares of face value of Rs. 5 each (‘Rights Equity Shares’) at a price of Rs. 535 per rights equity share (including a premium of Rs. 530 per rights equity share) for an aggregate amount of approximately upto Rs. 209,874 Mn