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Airtel reports Q1 loss of Rs 2,866 crore on one-time hit

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Telecom operator Bharti Airtel on Thursday posted a staggering Rs 2,866 crore loss for the first quarter of FY 2020, amid a fierce competition unleashed in the Indian telecom market by rival Reliance Jio. Airtel had logged a net profit of Rs 97 crore in the same period of the previous year, Bharti Airtel said in a statement. The revenue of the Sunil Mittal-led company rose 4.7 per cent to Rs 20,738 crore during the first quarter ended June 2019 as against Rs 19,799 crore in the year-ago period.

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