Agence France-PresseJuly 31, 2013 07:33
India's top mobile firm Bharti Airtel Wednesday reported its 14th straight quarterly profit fall, hit by foreign exchange losses, but its shares soared on hopes of better performance as tariff wars waned.
The company, the fourth largest globally by customers, reported net profit for the first financial quarter to June fell by 9.6 percent to 6.89 billion rupees ($114 million) from a year earlier.
But the profit still outpaced market expectations while revenues climbed 9.2 percent to 20.26 billion rupees. Net debt fell by $908 million to $9.78 billion, helped by a stake sale.