Airtel net profit falls 73.5% in June quarter on continued price war in India

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(Telecompaper) Bharti Airtel reported net profit for its fiscal first quarter to June down 73.5 percent to INR 973 million, hurt by the continued price war in the Indian mobile market. Revenues fell 8.6 percent to INR 200.8 billion, as the acquisition of Telenor India could not offset the price pressure and cuts to termination rates. Excluding regulatory effects and divestments, Airtel said revenues were up 2.3 percent. EBITDA dropped 12.6 percent to INR 68.37 billion, and the margin fell to 34.0 percent from 35.6 percent a year ago.
Source: Industry News (syndicated from Telecompaper.com)

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