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Bharti Airtel turns a surprise profit of Rs 97 crore in June quarter due to tax gains

Indian telecom conglomerate Bharti Airtel managed to post a net profit of Rs 97 crore for the first quarter ended June of the current fiscal against an expected hefty loss. Bharti Airtel posted a sequential rise of 17.37% in its profit attributed to owners, which rose to Rs 97.3 crore for the quarter ended June 30, 2018. In the previous quarter, this figure stood at Rs 82.9 crore. This, however, is 74% lower than the figure of Rs 367.7 core recorded during the corresponding quarter last fiscal. The profit rode on the back of deferred tax gains to the tune of Rs 1,844.3 crore that Airtel received in the current quarter. In the June quarter, Airtel saw its standalone loss balloon to Rs 1,457.20 crore as against a standalone profit of Rs 280.6 crore in the corresponding quarter last year.

Read More at Business Today News date : 27 Jul 2018, Friday

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