Bharti Airtel Net Profit Rises Less Than Expected on Currency Loss
By Adria Calatayud
Bharti Airtel said Thursday that its first-quarter net profit rose from a year earlier, but missed expectations, after the company booked an exceptional foreign-exchange loss.
The Indian telecom company said net profit rose to 16.125 billion Indian rupees ($194.8 million) for the quarter ended June 30 from INR16.07 billion a year earlier. That missed the estimate of INR29.39 billion in a poll of analysts by FactSet.
The company said it booked a foreign-exchange loss of INR34.16 billion.
First-quarter revenue increased to INR374.40 billion from INR328.05 billion a year earlier.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
August 03, 2023 07:45 ET (11:45 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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