Bharti
Airtel Ltd has announced an enormous drop in the profitability of its India
wireless business in the December portion. Earnings before interest and tax
(Ebit) of the carving fell 93% year-on-year to Rs167 crore. After accounting
for finance costs, the unit ran up huge losses. Airtel’s net finance costs
stood at Rs2,088 crore, and 60% of this is determinable to the India wireless
business, according to analysts.
The
losses in the crown jewel India wireless business recommended Airtel is pleased
to pay a large price—in the form of near-term losses—in fighting Reliance Jio Info comm Ltd.
More Updates:- Airtel, RelianceJio Fight Updates
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