IUC cut impact: Bharti Airtel Q3 net profit falls 39% to Rs 3.05 billion

India wireless revenue falls 22%, downtrend continues for fifth quarter in a row

Pricing pressures and regulatory changes in the India wireless business continue to impact the operational performance of Bharti Airtel, which reported a 39 per cent year-on-year (y-o-y) drop in its December quarter net profit at Rs 3.05 billion. Consolidated revenues, which include the company’s Africa business, fell 13 per cent over the year-ago quarter to Rs 203.1 billion. While revenues were marginally lower than estimates, there was an over 10 per cent gap between the Street’s bottom line estimates and the reported numbers.

India wireless revenues, which account for over 53 per cent of the consolidated revenues, fell 22 per cent