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)
Trending On Reuters
Rescuers dug with their bare hands and bodies piled up in Nepal on Sunday after an earthquake devastated the heavily crowded Kathmandu valley, killing at least 1,900, and triggered a deadly avalanche on Mount Everest. Full Article | Pictures