Airtel Q2 net tanks 76.5% to Rs 343 cr on tariff wars with Reliance Jio

Revenue of the company fell 11.7% to Rs 21,777 cr

The country's largest telecom company Bharti Airtel on Tuesday posted 76.5 per cent plunge in consolidated net profit to Rs 343 crore for the September quarter, hit by the disruptive pricing of newcomer Reliance Jio and the resulting tariff war.

It had posted a net profit of Rs 1,461 crore for the July- September quarter of last fiscal.

Airtel's total revenue fell 11.7 per cent to Rs 21,777 crore during the second quarter of 2017-18, from Rs 24,651.50 crore in the year-ago period.

"The financial stress in the industry continues due to double-digit revenue decline and will be further accentuated by the reduction in