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Bharti Airtel Q1 Net Profit Jumps 61%

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Bharti Airtel on Tuesday reported a 61% jump in its quarterly profits to Rs 1,108 crore from a year earlier, led by growth in mobile data, improved realization in voice services and lower finance costs.

The mobile phone operator’s Africa operations however, continued to take a toll on its overall profitability as the company continues to register losses in the first quarter ended June 30.

Bharti’s overall revenue increased by 13.3% to Rs 22,962 crore.

It efforts to convert its costly foreign debt into lower interest long-term bonds seem to be paying off as the overall finance costs fell by 18% on year to Rs 1,167 crore and the overall net debt came down to $9.6 billion. Original post at ET Telecom

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Wahengbam Rorrkychand

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