Bharti Airtel slips post 75% drop in Q1 net profit

Shares of the company opened at Rs 428.50 and touched a high and low of Rs 430 and Rs 421.65.

Bharti Airtel fell as much as 1.3% after the price war with Reliance Jio led to a 75% drop in net profit for the company at Rs 367 crore for the three months ended June. Net profit in the January-March quarter was nearly Rs 373 crore. 
 
Reliance Jio’s attractive offers forced the incumbent operators to match the new entrant's schemes, resulting in 34% lower realisations from the voice segment on a year-on-year basis. Pricing pressure on the data front was even worse. Data realisations were also down by 73% over the corresponding period last year. Click Here