Bharti Airtel net profit surges 29 per cent in March quarter

NEW DELHI: In what is seen as a surprise, telecom major Bharti Airtel on Monday posted a 29 per cent surge in its March quarter net profits as exceptional income gains and its Africa business helped offset losses in India mobile services operations.

The company—whose profitability has been battered by intense price competition posed by Mukesh Ambani’s Reliance Jio earned a net profit of Rs 107.2 crore in January-March against Rs 82.9 crore it earned in the same period of the previous fiscal. Bharti’s bottom line was bolstered by a one-time exceptional credit of Rs 2,167.60 crore arising from re-assessment of levies, based on a recent pronouncement.