MUMBAI May 9 Bharti Airtel Ltd,
India's biggest telecoms operator, reported a 69 percent drop in
quarterly profit, missing market expectations as a price war
launched by a rival carrier last year weighed on its earnings.
Consolidated net profit fell to 4.71 billion Indian rupees
($72.8 million) in the three months to March 31 from 15.29
billion rupees a year ago, Bharti said in a statement on
That was below a mean estimate of 5.28 billion rupees from
seven analysts, according to Thomson Reuters data.
Net sales dropped 12 percent to 219.35 billion rupees.
($1 = 64.6340 Indian rupees)
(Reporting by Sankalp Phartiyal; editing by David Clarke)