Airtel’s Profit Drops By About 27%

Posted Nov 10, 2010

Bharti Airtel Ltd. in India saw close to a 27% drop in second quarter net profit. The drop happened because of higher interest costs and competition intensity. Bharti reported a net profit of 16.61 billion rupees ($375 million) for the quarter between July and September. One year ago during the same quarter, profit was 22.63 billion rupees. Although profit dropped, Bharti saw revenues increase by about 47%. Bharti’s revenue was 152.15 billion this quarter compared to 103.79 billion rupees a year ago. [WSJ]