Bharti Airtel profit down 29 percent on rupee woes
Its mobile Internet revenue doubled from a year earlier, driving overall revenue up 10 percent.
MUMBAI (AP) Bharti Airtel, India s largest telecommunications company, says the weak rupee contributed to a 29 percent slump in quarterly profit.
The company said Wednesday its net profit for the July to September quarter was 5.1 billion rupees ($83 million). It absorbed currency losses of 3.4 billion rupees ($55 million).
However, solid revenue growth in rupee terms boosted the company s stock, which rose nearly 5 percent on the Bombay Stock Exchange.
Bhartil Airtel said its mobile Internet revenue doubled from a year earlier, driving overall revenue up 10 percent.
