Bharti Airtel Net Profit Fell on Higher Taxes, Costs
By Adria Calatayud
Bharti Airtel's second-quarter net profit dropped from a year earlier due to higher taxes and costs.
The Indian telecom company said Tuesday that net profit fell 38% from a year earlier to 13.41 billion rupees ($161 million) for the three months ended Sept. 30.
That missed the estimate of INR31.40 billion in a poll of analysts by FactSet.
Pretax profit grew across most businesses, including its Indian mobile-services, tower-infrastructure services and home-services segments, but fell for its African mobile-services segment.
Second-quarter revenue increased 7.3% from a year earlier to INR370.44 billion.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 31, 2023 07:39 ET (11:39 GMT)
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