Analysts feel that capex spends by telcos are likely to reach new highs as Reliance Jio
has clearly indicated it would continue to spend. This, feel industry observers, is an indicator of extended competitive intensity and further price wars.
Further, Bharti Airtel's board approved transfer of 32 per cent equity shares of Bharti Infratel owned by the company to its wholly owned subsidiary Nettle Infrastructure Investments on Thursday as part of its plans to monetise its stake in Bharti Infratel.
Post this transfer, Bharti Airtel
will own 18.3 per cent, Nettle Infrastructure will 35.2 per cent and the remaining 47 per cent shares will remain publicly held respectively in Bharti Infratel.
Bharti Airtel, in October, reported a 65 per cent drop in the July-September net profit to Rs 1.18 billion as compared to the year-ago quarterly net profit of Rs 3.43 billion. Following the earnings release, Bharti Airtel
India & South Asia Managing Director and Chief Executive Officer Gopal Vittal stated: "ARPU decline has moderated in this quarter. We remain focused on driving quality base growth with value adding propositions for our customers."
In the last quarter (July-September), Bharti Airtel's consolidated net debt rose by Rs 105 billion to Rs 1.18 trillion.
Badal Bagri is new CFO
Bharti Airtel also announced the appointment of Badal Bagri as chief financial officer and key managerial person (KMP) of the company following the exit of company veteran Nilanjan Roy. Roy's appointment as CFO of India's second largest IT company Infosys was also announced on Thursday.