January 18, 2018 / 12:57 PM / in 5 months

India's Bharti Airtel third quarter profit drops 39 percent

Jan 18 (Reuters) - India’s biggest mobile carrier Bharti Airtel Ltd posted a 39.3 percent drop in net profit in the third-quarter, after the country’s telecoms regulator ordered a sharp cut in mobile interconnection fees.

Net profit fell to 3.06 billion rupees ($48 million) in the quarter ended Dec. 31, from 5.04 billion rupees a year earlier, Airtel said on Thursday.

That missed an average estimate of 3.98 billion rupees from 10 analysts, according to Thomson Reuters data.

Revenue for the company dropped 13 percent to 203.19 billion rupees. ($1 = 63.8525 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; editing by Alexander Smith)

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