Bharti Airtel will sell more infrastructure in Africa to reduce debt and cut capital expenditure on passive infrastructure. A month back, Bharti Airtel International (Netherlands) BV, a subsidiary, had announced plans to sell 3,100 of its 15,000 telecom towers in Africa to Helios Towers.
In the recent April-June quarter, its net loss for the African business was $137 million, compared to $52 million in the corresponding period last year. Consolidated net debt was Rs 57,744 crore ($9.6 billion) at the end of June, down from Rs 60,541 crore ($10.07 billion) till end-March.
Its revenue rose 17.5 per cent in the quarter under review over the same period last year but net losses widened, mainly due to foreign exchange losses. Earnings before interest and tax in Africa dropped 27 per cent (measured in dollar terms) during the April-June quarter.
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