UPDATE 2-Bharti Airtel profit beats forecast, still seeks buys

(Adds quotes, MTN comments)

By Devidutta Tripathy

NEW DELHI, July 24 (Reuters) - India's Bharti Airtel Ltd (BRTI.BO: Quote, Profile, Research, Stock Buzz), the top mobile operator in the world's fastest-growing wireless market, posted a forecast-beating 34 percent jump in profit and said it would still hunt for targets to expand globally.

Bharti, which in May called off tie-up talks with South Africa's MTN Group (MTNJ.J: Quote, Profile, Research, Stock Buzz) that would have created a top-10 global telecom firm, added 7.5 million mobile subscribers in the June quarter to cement its market-leading position.

"There is nothing on the horizon that will significantly erode profit in the near future," Bharti Joint Managing Director Akhil Gupta told reporters on Thursday.

"Surely tariffs are under pressure, will always be under pressure. But I think we are holding up very well."

Gupta said Bharti remained keen to expand overseas, despite the failure of talks with MTN.

"There are many countries, especially the emerging markets, where our low-cost model can be replicated. If we see any opportunity, we will certainly evaluate."

New Delhi-based Bharti, owned about 30 percent by Southeast Asia's top phone firm, SingTel (STEL.SI: Quote, Profile, Research, Stock Buzz), said consolidated net profit rose to 20.25 billion rupees ($484 million) in its fiscal first quarter ended June, from 15.1 billion a year earlier.