Bharti Airtel posts surprise profit of Rs 107 crore

Bharti Airtel on Monday was able to beat analysts estimates by posting a surprise consolidated net profit of Rs 107.2 crore, during the January-March quarter, up 24.36% compared to the preceding quarter, on the back of a one-time gain of Rs 2,022 crore Before this exceptional gain, the company posted a net loss of around Rs 1,200 crore, wider than Rs 1,041 crore, (before exceptional gain) in the preceding quarter.

For the last more than four quarters, Bharti has been posting a consolidated net profit on the back of exceptional gains. Bloomberg consensus estimates had pegged the company’s consolidated net loss at Rs 966 crore during the quarter.