Bharti Airtel Net Profit Rises Less Than Expected on Currency Loss
Provided by
Dow Jones
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.-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths
-
Pfizer Earnings: Solid Results Supported by Steady Tracking Toward $4 Billion In Cost Cuts
-
Starbucks Earnings: Not a Lot to Like About Results as Global Traffic Sputters