The company's consolidated net debt rose to Rs 91,480 crore against Rs 87,840 crore in the previous quarter.
The company added that consolidated revenues for the just-ended quarter, at Rs 21,777 crore, represented a year on year drop of 10.4 per cent (reported drop of 11.7 per cent) on an underlying basis when adjusted for Africa and Bangladesh divested operating units and tower asset sale.
Consolidated revenue declined almost 12% to Rs 21,777 crore from a year earlier as data and voice rates fell.
The company's weak result is primarily because of intense competition led by Reliance Jio Infocomm and low tariffs war which is continuing in the sector.
Average revenue per user (ARPU) during the quarter stood at Rs 154 which was lower than Rs 188 during the corresponding quarter year ago. The company reported consolidated revenues of Rs 21,777 crore.
This will eventually force operator consolidation and exits as the industry has witnessed in the recent past, he added.
India's telecom industry is roiled by a price war triggered by the entry of billionaire Mukesh Ambani's wireless venture Jio in September a year ago.
The company said it had "stepped up" the capex investments in the quarter on the back of data coverage and capacity.
It can be recalled that Reliance Jio had launched its services, offering all services free of cost, exactly at the same time previous year. "Total MBs on the network saw a whopping 65.9 percent increase quarter-on-quarter at 783.8 billion minutes and data usage per customer for the quarter stood at 4,087 MB, higher by 56.5 percent QoQ", Bharti said. Profit in the April-June quarter was Rs 367 crore. Jio, which reported its results for the first time earlier this month, reported ARPU of Rs 156.4, now the highest in the industry. Our efforts to create a profitable business model for Africa continues and we have delivered EBITDA margin of 32.1 percent, with underlying margins up 9.1 percent Y-o-Y. EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 2.3 percent sequentially to Rs 8,003.7 crore and margin expanded by 120 basis points to 36.8 percent for the quarter.
Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.497.65 as compared to the previous close of Rs. 492.8. Revenue from operations on standalone basis declined 3.6 percent to Rs 13,980.1 crore for quarter ended September 2017. The move is also set to consolidate Bharti's leadership in India's mobile phone market, which was imperiled by the merger of second- and third-ranked Vodafone India and Idea Cellular.