Business News

India's Bharti Airtel profit rises first time in 4 years

A Bharti Airtel Ltd. digital TV stands on display at the company's flagship store in Mumbai, India on Thursday, May 2, 2013.
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Bharti Airtel, India's top telecommunications carrier, said its quarterly net profit rose for the first time in four years but was sharply lower than forecast.

Bharti Airtel, nearly a third owned by Southeast Asia's top phone carrier SingTel, said it was helped by lower competition and an increase in voice call prices.

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Its consolidated net profit was 6.10 billion rupees ($97.4 million) for the fiscal third quarter ended December from 2.84 billion rupees a year earlier. Net income before exceptional items was 8.32 billion rupees, Bharti said in a statement.

Analysts had expected a net profit of 10.44 billion rupees for the New Delhi-based company that operates mobile phone services in 20 countries across Asia and Africa.