(Bloomberg) — Bharti Airtel Ltd.’s quarterly profit missed analyst estimates, signaling headwinds for the Google-backed wireless phone operator that announced two rounds of tariff hikes in recent months in hopes of boosting its finances.
India’s second-largest carrier, helmed by billionaire Sunil Mittal, posted a 2.8% fall in net income to 8.3 billion rupees ($111 million) for the quarter ended Dec. 31, it said in an exchange filing Tuesday. That missed the average analyst estimate of 10.21 billion rupees profit estimated by a Bloomberg survey of brokerages.
Revenue rose 13% to 298.7 billion rupees, beating estimates, while total costs surged 4.8% compared to the same period a year ago.
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