India's Bharti Airtel Q3 profit sinks, misses estimates
NEW DELHI Feb 1 (Reuters) - Profit at Bharti Airtel Ltd , India's top mobile network operator, fell for the twelfth quarter in a row and missed estimates by a wide margin, dragged down by higher costs.
Bharti Airtel, controlled by billionaire Sunil Mittal, said consolidated net profit fell to 2.84 billion rupees ($53.39 million) in the fiscal third quarter that ended Dec. 31, from 10.11 billion rupees a year earlier.
Analysts had expected the company to report net profit of 8.45 billion rupees, according to Thomson Reuters I/B/E/S.
Bharti Airtel is the world's fourth-biggest cellular carrier by number of subscribers, operating in 20 countries in Asia and Africa. Singapore's SingTel owns almost a third of the firm. ($1 = 53.1900 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Daniel Magnowski)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- U.S. nurse defies Ebola quarantine with bike ride; negotiations fail
- Nurse defies Ebola quarantine with bike ride; negotiations fail |
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- UPDATE 3-Starbucks Americas sales disappoint on softer traffic
The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.5 percent to an all-time high of 27,759.01. The broader Nifty gained as much as 1.49 percent to a record of 8,291.65. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article