Airtel profit dips on higher provisions
Bharti Airtel on Thursday reported a marginal quarter-on-quarter decline in net profit for the October–December quarter, as higher exceptional charges and increased provisions weighed on the bottom line, even as operating performance improved sequentially.
The telecom operator posted a consolidated net profit of Rs 6,631 crore, down 2.4% from Rs 6,792 crore in the September quarter and below Bloomberg consensus estimates of Rs 7,157 crore. Profit before exceptional items stood at Rs 6,920 crore, reflecting steady operating momentum during the quarter. The sequential decline in reported profit was primarily driven by higher exceptional charges, including provisions linked to new labour codes, rather than any change in business fundamentals.
