How small mistakes turn out to be extremely costly
For the full fiscal ended 31 March 2013, the company’s standalone net profit fell by 11.05% to Rs5,096.3 crore from Rs5,730 crore in 2011-12
Telecom major Bharti Airtel on Thursday reported a 31.1% drop in standalone net profit at Rs1,084.4 crore for the fourth quarter ended 31 March 2013, mainly due to higher expenses.
The company’s standalone net profit stood at Rs1,574.3 crore in year-ago period.
Total expenses of the company increased by 11.76% to Rs9,816.3 crore during the reporting quarter from Rs8,782.9 crore in the corresponding period of previous fiscal, the company said in a filing with the stock exchanges.
The company had to cough up Rs458.6 crore as tax during the quarter, which is 66% higher than Rs276.1 crore it paid in January-March 2012, according to the filing.
Total income from operations of Bharti Airtel on a standalone basis, however, increased by 7.35% to Rs11,548.3 crore in the last quarter of 2012-13 compared to Rs10,757.2 crore in the same period a year ago.
For the full fiscal ended 31 March 2013, the company’s standalone net profit fell by 11.05% to Rs5,096.3 crore from Rs5,730 crore in 2011-12.
Income from operations (revenues) on a standalone basis during 2012-13 increased by 9% to Rs45,350.9 crore from Rs41,603.8 crore in 2011-12.