July 26, 2018 / 11:41 AM / 5 months ago

India's Bharti Airtel posts surprise Q1 profit

July 26 (Reuters) - India’s Bharti Airtel Ltd posted a surprise first-quarter profit on Thursday, helped by tax gains in the period.

Profit fell 73.5 percent to 973 million rupees ($14.17 million) for the quarter ended June 30, as a pricing war that has upended the telecoms sector continued to weigh on the mobile carrier.

The company had reported a profit of 3.67 billion rupees a year earlier.

Analysts, on average, expected a net loss of 3.08 billion rupees, according to estimates by Thomson Reuters I/B/E/S.

Revenue fell about 9 percent to 200.80 billion rupees, the company said in a statement here. ($1 = 68.6700 Indian rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Adrian Croft)

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