Bharti Airtel net down 17% to Rs 1,341 crore

Owing to a one-time tax provisioning charge, Bharti Airtel on Tuesday missed estimates on the net profit front during the July-September quarter. The company saw a 17% quarter-on-quarter fall in its net profit to Rs 1,341 crore against Bloomberg estimate of Rs 3,205 crore.

Bharti booked an exceptional item of Rs 1,570 crore, towards tax provisioning, including interest charge, as a result of the recent Supreme Court order treating licence fee since July 1999 as capital expenditure.