Bharti Airtel on Tuesday reported a net income that was higher by 61% on-year at Rs 1,110 crore in the three months to June, reports fe Bureau in Mumbai. Revenues at the Sunil Mittal-promoted wireless carrier rose 13% to Rs 22,960 crore, beating Bloomerg consensus estimates.
However, the firm’s performance in Africa, where it has operations in 17 countries, was modest. Last week, the K M Birla Group’s Idea Cellular had turned in a stellar set of numbers for the June quarter with margins in its 15 established circles hitting 34%.
The consolidated net income came in at Rs 730 crore, up 57% y-o-y, well ahead of estimates. Analysts, however, remain cautious about the entry of Reliance Jio into the market.
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fe Bureau | The Financial Express