Bharti Airtel reports over two-fold rise in second-quarter profit after tariff hike

Bharti Airtel has reported an over two-fold rise in its second-quarter profit on Monday as the telecom operator’s first tariff hike in over two years boosted its revenue per user.

India’s No.2 wireless carrier’s consolidated net profit jumped 168 per cent to ₹3,593 crore in the July-September quarter against ₹1,341 crore a year ago.

Net profit still fell short of the average estimate of ₹4,398 crore by Bloomberg analysts as the company suffered a one-time loss of ₹854 crore resulting from a unit’s foreign exchange loss due to currency devaluation.