Bharti Airtel Ltd, which is one of India's top-notch mobile phone carriers, recently reported an increase in its quarterly profit. Apparently, the company was not only in line with expectations but it did much better than that.
Bharti Airtel's newest surge was helped by pushing call prices higher with reduced competition in the world's second-biggest mobile phone market.
The New Delhi-based Bharti Airtel said on Tuesday that the company had repoted impressive net profit which surged 89 percent to 9.62 billion rupees ($158.9 million) for its fiscal fourth quarter to end-March.
Previous to this, India's biggest mobile-phone company posted a net profit of Rs. 962 crore in January-March as against a Rs 509 crore earning in the same period last year.
Morever, after reporting declining quarterly profit for four years straight, Bharti Airtel posted a profit rise for the December quarter, again helped by higher call prices and also a surge in mobile data sales.
"Consolidated mobile data revenues at Rs 1,900 crore grew by 93.4% year-on-year, accounting for more than one-third of the growth," the company said in a statement.
According to a Reuters report on the same, "Bharti and its two closest rivals, Vodafone Group Plc's local unit and Idea Cellular Ltd, have become stronger in the past year and now account for about 70 percent of the sector's overall revenue."
The newest results were unveiled after the close of the Mumbai market. Interestingly, Bharti Airtel's shares had fallen 0.8 percent on Tuesday, which is also in line with the benchmark index.