Bharti Airtel posts net profit of Rs 284 cr in Q1, misses street estimates

Operating performance saw improvement and was ahead of expectations

Bharti Airtel on Tuesday reported a net profit of Rs 283.5 crore in the first quarter (Q1) ended June 30 of 2021-22. This was much lower than the consensus estimates, which had pegged the same at Rs 604 crore. The company had reported a loss of Rs 15,933 crore in the year-ago quarter on account of a one-time provision for dues related to adjusted gross revenue. 

The June quarter profit was aided by the sale of tower assets in Africa for $175 million (Rs 1,279.6 crore). On a sequential basis, the reported profit was down 63 per cent. But, the highlight