Connect with us

Telecom

Bharti’s Profit Disappoints on One-Off Forex Related Charges

Published

on

Kindly share this post

Bharti Airtel Ltd. reported a lower-than-expected quarterly profit as gains from tariff hikes failed to offset the drag from a one-time charges due to foreign exchange losses.

Bharti’s Profit Disappoints on One-Off Forex Related Charges

bharti airtel

India’s No.2 wireless carrier, led by billionaire Sunil Mittal, almost trebled its net income to 35.9 billion rupees ($427 million) for the quarter ended Sep. 30 from the same period last year, according to a filing Monday.

It still fell short of the average 43.98 billion-rupee profit estimated by analysts surveyed by Bloomberg.

The operator took a one-time expense of 8.54 billion rupees for the quarter on account of net foreign exchange loss due to currency devaluation in group units.

Revenue rose 12% to 414.73 billion rupees, beating estimates slightly. Total costs also climbed 12% to 196.3 billion rupees, the filing said.

The average revenue per user, or ARPU, for India operations was 233 rupees, a jump of 10% from the preceding quarter.

It’s a far cry from the 300-rupee mark that Bharti has been flagging for a while as the minimum needed for financial stability of the telecom operators.

The latest quarterly earnings are coming on a low base. Last year’s September quarter profit was also hit by a one-off expense due to an adverse court ruling in India and forex losses due to a devalued Nigerian naira.

“The flow through of tariff repair is in-line with our expectation on ARPU increase and SIM consolidation. We reported industry leading ARPU,” Gopal Vittal, managing director, said in the filing, without commenting specifically on the forex-related charges this quarter.

Vittal has been appointed as Bharti’s vice chairman while Shashwat Sharma was named as the managing director and chief executive officer, according to a company filing. Both will move into their new roles starting Jan. 1, 2026.

 

 

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

Published

on

Kindly share this post

SHELT, a leading cybersecurity-as-a-service provider, has earned inclusion in the 2025 MSSP 250, the annual ranking of the world’s top 250 Managed Security Service Providers (MSSPs) by MSSP Alert, a CyberRisk Alliance publication.

SHELT Named in Prestigious 2025 MSSP 250 List for Cybersecurity Excellence

SHELT

The list evaluates firms on business performance, service breadth, and industry impact, spotlighting those excelling in growth, operational excellence, and advanced managed security amid rising cyber threats. Selection criteria include annual recurring revenue, profitability, workforce expansion, business growth, and the depth of managed security offerings.

SHELT’s recognition underscores its investments in scalable security operations, threat intelligence, and tailored managed services across multiple regions, enabling clients to navigate complex risk landscapes effectively.

“Being recognised in the MSSP 250 is a meaningful milestone for our team,” stated Youssef Abillama, CEO of SHELT. “It validates our focus on building practical, resilient security services that help organisations manage risk and respond effectively to today’s evolving cyber threats.”

The company hailed the honour as testament to its teams’ dedication and expertise worldwide, reaffirming commitment to enhancing capabilities and delivering trusted cybersecurity solutions.


Kindly share this post
Continue Reading

Telecom

Meta Names Ex-Trump Adviser Dina Powell McCormick as President

Published

on

Kindly share this post

Meta Platforms, owner of Facebook, has appointed Dina Powell McCormick, a former adviser to President Donald Trump, as its new president and vice chairman, bolstering its leadership amid aggressive AI and infrastructure expansion.

Meta names ex-Trump adviser Dina Powell McCormick as president

Dina Powell McCormick

The announcement, made on Monday, positions Powell McCormick – who recently stepped down from Meta’s board after eight months – to guide overall strategy, including multi-billion-dollar investments in data centres and global partnerships.

A Goldman Sachs veteran with 16 years in senior roles and prior stints as deputy national security adviser under Trump and in the Bush administration, she brings deep finance and international ties to the role.

Meta CEO Mark Zuckerberg hailed her as “uniquely qualified” for the company’s next growth phase, while President Trump praised the move on Truth Social as a “fantastic choice”.

The hire signals Meta’s efforts to strengthen White House relations, following recent dinners with Trump and U.S. investment pledges worth hundreds of billions


Kindly share this post
Continue Reading

Telecom

X Suspends Twitter Account for Rules Violation

Published

on

Kindly share this post

X, the social media platform formerly known as Twitter, has suspended the @Twitter account, replacing its profile with a standard notice citing violation of platform rules.

X Suspends Twitter Account for Rules Violation

Musk

The action, which occurred on Sunday, January 11, left users encountering the handle greeted by a bold “Account Suspended” message on a black screen, with no details provided on the specific rules broken or the duration of the suspension.

The development has sparked widespread confusion and nostalgia among users, given that Elon Musk rebranded Twitter to X in July 2023, approximately six months after acquiring the platform for $44 billion in late 2022.

The @Twitter handle had remained dormant since before Musk’s takeover, serving as a legacy remnant of the platform’s original branding, and its suspension appears to mark the final erasure of the Twitter name amid X’s ongoing efforts to combat spam, impersonation, and rule violations.

X’s official statement on the suspended page simply reads: “X suspends accounts that violate our rules,” without offering an appeal process or further explanation, unlike standard user suspensions.

Public reactions on social media ranged from humorous laments of “RIP Twitter” to speculation that the move resulted from automated moderation or a deliberate cleanup of legacy trademarks.

xAI’s Grok AI described it as a purposeful retirement of outdated elements rather than a genuine infraction, while neither Elon Musk nor X spokespeople issued any comment as of Monday morning.

This incident underscores the evolving identity of the platform under Musk’s ownership, which also saw a domain shift to x.com in 2024, further distancing it from its Twitter roots.

Industry observers note that while the suspension aligns with X’s stricter enforcement policies, the lack of transparency has fueled debates on consistency in applying rules to high-profile legacy accounts.


Kindly share this post
Continue Reading

Trending