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India's Bharti Airtel profit doubles, first rise in 4 years

India's top mobile phone firm Bharti Airtel said Wednesday its quarterly profit leapt by 115 percent, the first rise in four years, boosted by surging data use and an easing of price wars. Bharti, the fourth-largest telecom firm globally, said net profit for the third financial quarter to December climbed to 6.1 billion rupees ($98 million) from 2.84 billion rupees in the same period a year earlier. The company's focus on Internet operations "has increased adoption and usage" of Bharti, said Indian chief executive Gopal Vittal.

India's Bharti Airtel profit doubles, first rise in 4 years

India's top mobile phone firm Bharti Airtel reported Wednesday its quarterly profit leapt by 115 percent, the first rise in four years, boosted by surging data use and easing of cut-throat price wars. Bharti, the fourth-largest telecom firm globally, said net profit for the third financial quarter to December climbed to 6.1 billion rupees ($98 million) from 2.84 billion rupees in the same period a year earlier. The company's focus on Internet operations "has increased adoption and usage" of Bharti, said Indian chief executive Gopal Vittal.

India's Bharti Airtel quarterly profit dives 10%

India's top mobile company Bharti Airtel on Wednesday reported a nearly 10 percent dive in quarterly profit from a year ago, with the carrier hit by foreign exchange losses and other costs. The year-on-year tumble in profits was the 14th straight decline for Bharti, which has been struggling in a cut-throat market. But the company, the world's fourth-biggest cellular operator by customers, said it was optimistic about the future as fierce tariff wars wane.

India's Bharti to sell 5% stake to Qatar investor

India's biggest telecoms company Bharti Airtel said Friday it would sell new shares equivalent to a 5.0-percent stake in itself to a Qatar-based investor for $1.26 billion. The investment, Bharti said, will "further strengthen its capital structure and provide further flexibility to the company to deliver on its growth strategy". As part of the agreement, Bharti will issue 199.8 million new shares at 340 rupees ($6.2) per share, which investor Qatar Foundation Endowment (QFE) will acquire, the Indian firm said in a statement.

Bharti Airtel to buy Alcatel-Lucent stake in India tie-up

Bharti Airtel, India's biggest mobile phone firm, said Tuesday it will buyout Alcatel-Lucent's stake in a joint venture which manages Bharti's fixed-line and broadband networks in the country. Bharti Airtel and the local unit of telecoms equipment maker Alcatel-Lucent had formed the 26:74 joint venture, Alcatel-Lucent Managed Network Service India, in 2009. The five-year network contract, which was worth about $500 million, ends in April 2014.

India's Bharti quarterly profit dives, misses estimate

India's top telecoms company Bharti Airtel reported Friday that its net quarterly profit plunged by an unexpected 72 percent in the three months to December, hit by punishing competition and soaring interest charges. The profit drop to 2.84 billion rupees ($53 million) marked the phone giant's 12th straight quarterly fall and was well wide of analysts' forecasts of an eight billion rupee profit. "Market conditions have been challenging in recent quarters due to pricing pressures and rising input costs," Bharti's billionaire founder and chairman Sunil Bharti Mittal said.

India's Bharti quarterly profit dives, misses estimate

Bharti Airtel, India's top mobile company, reported on Friday its net quarterly profit plunged by an unexpected 72 percent, hit by punishing price competition and a surge in interest charges. The profit drop to 2.84 billion rupees in the three months to December marked the telecom giant's 12th straight quarterly fall and far undershot analysts' forecasts of an eight-billion-rupee profit. "Market conditions have been challenging in recent quarters due to pricing pressures and rising input costs," Bharti's billionaire founder and chairman Sunil Bharti Mittal said.

India's Bharti quarterly profit dives, misses estimate

Bharti Airtel, India's top mobile phone company, said Friday that quarterly profit has slid more than 70 percent due to "challenging" conditions in a competitive market, falling far short of market estimates. The drop in the three months to December marked the telecom company's 12th straight quarterly fall and was far below the consensus market expectations of an eight-billion-rupee profit rise.
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