Airtel's revenue dropped 13 percent to Rs 20,319 crore.
India's biggest mobile carrier Bharti Airtel Ltd posted a 39.3 percent drop in net profit in the third-quarter, after the country's telecoms regulator, Telecom Regulatory Authority of India (TRAI) ordered a sharp cut in mobile interconnection fees. Net profit fell to Rs 306 crore ($48 million) in the quarter ended December 31, from Rs 504 crore a year earlier, Airtel said on Thursday. That missed an average estimate of Rs 398 crore from 10 analysts, according to Thomson Reuters data. Revenue for the company dropped 13 percent to Rs 20,319 crore.