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Bharti Airtel's shocking Q1 result: Profit slumps 74% to Rs 973 million

The company had reported a profit of Rs 3.67 billion a year earlier

Reuters 

India's Bharti Airtel Ltd posted a surprise first-quarter profit on Thursday, helped by tax gains in the period. Profit fell 73.5 per cent to Rs 973 million ($14.17 million) for the quarter ended June 30, as a pricing war that has upended the telecoms sector continued to weigh on the mobile carrier. The company had reported a profit of Rs 3.67 billion a year earlier. Analysts, on average, expected a net loss of Rs 3.08 billion, according to estimates by Thomson Reuters. Revenue fell about 9 per cent to Rs 200.80 billion, the company said in a statement.

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First Published: Thu, July 26 2018. 18:11 IST