Airtel reported a 4.4% rise in its revenue earlier than distinctive objects and taxes to ₹52.34 billion. File
| Photo Credit: Reuters
Indian telecom operator Bharti Airtel reported fourth-quarter revenue beneath expectations on Tuesday, damage by currency devaluation in Africa.
India’s second-ranked telecom service by subscribers stated consolidated revenue from operations rose 4.4% to ₹375.99 billion rupees ($4.5 billion) for the three months to March 31, lacking analysts’ common estimates of ₹388.49 billion, as per LSEG information.
Consolidated revenue was impacted by the devaluation of African currencies, notably in the Nigerian Naira, throughout the interval, the corporate stated.
It stated it incurred an distinctive cost of ₹24.56 billion on account of the currency devaluation in its group subsidiaries.
Airtel reported a 4.4% rise in its revenue earlier than distinctive objects and taxes to ₹52.34 billion.
