Bharti Airtel Ltd. reported lower-than-expected quarterly profit, marking a boon for India’s No. 2 wireless operator.
Bharti Airtel Ltd. reported lower-than-expected quarterly profit, marking a headwind for India’s No. 2 wireless carrier as it begins rolling out 5G services across the country.
The carrier, led by billionaire Sunil Mittal, posted a 90% increase in net income to 21.5 billion rupees ($260 million) for the quarter ended September 30, according to an exchange filing on Wednesday. Two. But it missed the average profit of Rs 25.44 billion that analysts estimated in a Bloomberg survey.
Revenue rose 22% to Rs 345.3 billion, beating estimates. Total costs rose 17% to Rs 169.3 billion from the same period last year, the filing said.
