Telecom Company Bharti Airtel reported a consolidated net loss of Rs 1,035 crore in the third quarter of the current financial year. Earlier, the company had a profit of Rs 86 crore in the same quarter of the financial year 2018-19. During this period, the company's earnings have increased. These things have been said in the statement issued by the company.
The company's revenue grew by 8.5 percent to Rs 21,947 crore for the quarter ended December 2019 from Rs 20,231 crore in the same quarter a year ago. Gopal Vittal, Managing Director, and Chief Executive Officer (CEO) of Bharti Airtel, said, "Changes in fee rates in December 2019 are a welcome step to improve the financial condition of the industry but we believe that further increase in fees in the coming times should be so that the industry can invest in advancing technology."
Bharti Airtel's revenue during the period under review increased by seven percent to Rs 15,797 crore as compared to the third quarter a year ago. Earlier in the second quarter of the year, the company reported the biggest ever loss of Rs 23,045 crore. The loss was caused by the company raising Rs 28,450 crore for statutory arrears under a Supreme Court ruling.
