Bharti Q3 net profit falls 22 % on high interest costs
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Bharti Airtel, the world's fifth-biggest mobile phone carrier by subscribers, reported on Wednesday a 22 percent fall in quarterly profit - its eighth straight quarter of declining profits - hit by higher interest costs.
Bharti, controlled by billionaire Sunil Mittal and also nearly a third owned by Southeast Asia's biggest phone firm SingTel, said consolidated net profit fell to 10.11 billion indian rupees for its fiscal third quarter ended December from 13.03 billion rupees a year earlier.
If the Chinese were to buy Australia....
The results were based on international accounting standards.
A Reuters poll of brokerages had expected a 3.2 percent rise in net profit to 13.45 billion rupes for India's top mobile phone operator, which in 2010 bought mobile operations from Kuwait's Zain in 15 African countries in a $9 billion debt-funded deal.
Bharti currently operates in 19 countries across Asia and Africa. India is the company's biggest market where it had more than 175 million mobile customers as of December.
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