Bharti Airtel Reports Profit Of Rs 97 Crore In April-June, Beats Analysts' Estimates

Bharti Airtel on Thursday reported a net profit of Rs 97.3 crore for the April-June period. That marked a 73.5 per cent year-on-year decline compared from a net profit of Rs 367.3 crore for the quarter ended June 2017. The profit was boosted by tax gains in the period. In a regulatory filing, Bharti Airtel said it registered revenue of Rs 20,080 crore during the quarter, which stood 8.6 per cent lower compared with the year-ago period. Analysts had on an average expected a net loss of Rs 308 crore, according to estimates by Thomson Reuters.

For the January-March quarter, the telecom major had registered a net profit of Rs. 82.9 crore over revenue of Rs 19,634 crore. That had marked the company's lowest quarterly profit since the quarter ended June 2003.

Shares in Bharti Airtel had closed 2.2 per cent higher at Rs 360 on the NSE, outperforming the equity markets.