Airtel posts ₹854 cr profit in Q3 on one-time gain

After six quarters of losses, Bharti Airtel Ltd returned to the black in the December quarter because of a one-time gain from the merger of its tower subsidiary and Indus Towers Ltd.

India’s second-largest telecom operator on Wednesday reported a consolidated net profit of ₹854 crore for the three months ended December. It had posted a loss of ₹1,035 crore in the year-ago period.

It reported a one-time gain of ₹9,449.6 crore from the merger of its subsidiary Bharti Infratel Ltd with Indus Towers. Before this exceptional item, Airtel posted a consolidated loss of ₹298 crore in the third quarter.