TRENDING ON ONEINDIA
- NIA Officially Takes Over Probe Into Pulwama Terror Attack
- Schalke 2 Manchester City 3 — 10-Man Visitors Strike Late Through Sane & Sterling
- Tata 45X’s Teaser Video Out — Production-Spec Tata 45X To Be Unveiled At Geneva Motor Show
- Cobrapost Sting Operation: Sunny Leone & Sonu Sood Deny All The Allegations!
- Vivo V15 Pro Launched At Rs 28,990 — The Good, Bad & The X factor
- Nutrition: Blood & Marrow Transplant
- Best Places To Visit In India In March: A 2019 Must-visit Checklist
- Company Fixed Deposits In India Which Offer Yields Of Near 10%
Bharti Airtel Boasts 89 Percent Increase in Net Profit for Q4: Does Better Than Expectations
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.