Bharti Telecom's Q3FY25 net loss widened due to higher finance costs linked to Airtel share buys: Singtel
Singapore Telecommunications (Singtel) said Bharti Telecom’s net loss widened in the fiscal third quarter due to the latter’s higher finance expenses from extra borrowings to buy more Bharti Airtel shares.
Singtel holds a 49.44% stake in Bharti Telecom (BTL) — the main promoter-level controlling company of Sunil Mittal-led Airtel. The Mittal family-backed Bharti Group owns a majority 50.56% stake in BTL.
“BTL’s net loss widened (in Q3FY25) ) with higher finance expenses from additional borrowings for acquiring more Airtel shares in December 2023 and November 2024,” Singtel said in its December quarter earnings statement Wednesday.
BTL reported a Rs 748.7 crore net loss in the December quarter, FY25. The higher quarterly loss has resulted in a negative S$57 million (-Rs 370 crore approx) pre-tax contribution to Singtel in the fiscal third quarter, as per the Singapore-based carrier’s earnings statement.
BTL’s finance costs have jumped over 44% sequentially to Rs 795.8 crore in Q3FY25.
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