Bharti Airtel cuts losses at Rs 1,035 crore in October-December quarter

Bharti Airtel on Tuesday missed Street estimates on the consolidated net loss front during the October-December quarter but performed better on the revenue and operating income front. The company’s consolidated net loss during the quarter stood at Rs 1,035 crore, wider than Bloomberg consensus estimate of Rs 637.93 crore.

The net loss during the preceding quarter was the highest in its history at Rs 23,045 crore on the back of provisions for the licence fee and spectrum usage charge based on the definition of the Supreme Court of what constitutes adjusted gross revenue.