NEW DELHI, April 29 Bharti Airtel Ltd,
India's top mobile phone carrier, reported its second
consecutive quarter of profit growth, meeting estimates, as
reduced competition in the world's second-biggest mobile phone
market helped push call prices higher.
Consolidated net profit surged 89 percent to 9.62 billion
Indian rupees ($158.9 million) for its fiscal fourth quarter to
end-March from 5.09 billion rupees reported a year earlier, New
Delhi-based Bharti Airtel said on Tuesday.
Analysts on average had expected the New Delhi-based
company, headed by Indian billionaire Sunil Mittal and nearly a
third owned by Singapore Telecommunications, to report
a net profit of 9.73 billion rupees.
The Indian telecommunications market, which had been hit by
fierce competition and a vicious price war, started improving
last year following a court order that revoked the permits of
several carriers and reduced competition. Bharti Airtel had
reported for the December quarter its first profit rise in four
The company operates in 20 countries across Asia and Africa
and is the world's fourth-biggest cellular carrier by customers.
($1 = 60.5550 Indian Rupees)
(Reporting by Devidutta Tripathy; Editing by Matt Driskill and