Bharti Airtel Misses Profit Estimates on Costs
Bharti Airtel reported a lower than expected quarterly profit as surging network costs and licence fees offset gains from new subscribers and higher average revenue per user. Total expenses rose fifteen percent during the period.
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BHARTI AIRTEL LTD missed second-quarter profit estimates on Thursday as higher network operating costs offset a rise in subscriber additions and upgrades to costlier plans. The consolidated net profit rose to 88.88 billion rupees for the quarter ended September 30, up from 67.92 billion rupees a year earlier. Analysts had expected a profit of 96.73 billion rupees, per LSEG-compiled data.
