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Home » News » Business » Bharti Airtel Q3 profit sinks, misses estimates

Bharti Airtel Q3 profit sinks, misses estimates

(Reuters) – Profit at Bharti Airtel Ltd(BRTI.NS), 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 in the fiscal third quarter that ended December 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 (STEL.SI) owns almost a third of the firm.

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