Bharti Airtel Reports Drop in Quarterly Profit

Consolidated net profit fell to 11.17 billion rupees ($163.84 million) in its fiscal third quarter to December 31, from 14.37 billion rupees a year earlier, the company said.

Analysts on average had expected a net profit of 12.64 billion rupees, according to data compiled by Thomson Reuters.

Bharti Airtel, headed by Indian billionaire Sunil Mittal, said total revenue rose 3.7 percent to 240.66 billion rupees.

© Thomson Reuters 2016