Airtel Q4 consolidated net up 37.5% on exceptional gain

New Delhi, May 6 (IANS) Gains from exceptional item aided telecom major Bharti Airtel to post a rise of 37.5 per cent in its total consolidated net profit for the January-March quarter, on an year-on-year (YoY) basis.The total consolidated net profit (profit attributable to owners and non-controlling interest) of the company stood at Rs 576.10 crore during the fourth quarter (Q4) of financial year 2018-19, against Rs 419 crore reported during the corresponding period of the previous fiscal, Airtel said in a statement."Exceptional item during the quarter ended March 31, 2019 mainly comprises...credit of Rs 2,052.2 crore pertaining to re-assessment of levies, based on a recent pronouncement related to the manner of determination of such levies," the company said in a statement.The company's total income during the period under review was Rs 20,656.8 crore, 6.09 per cent higher than Rs 19,469.8 crore earned during the same period of FY 2017-18, it said.However, for the fiscal 2018-19, the telco reported 22.72 per cent decline in its consolidated net profit at Rs 1,687.50 crore. The total income of the company in FY 2018-19 was Rs 81,071.4 crore, 2.19 per cent lower from Rs 82,887.6 crore.
--IANS rrb-rv/sn/nir