Bharti Airtel shares down 3% post decline in Q3 profit

Bharti Airtel's shares today declined by 3 per cent after the company reported an over 22 per cent fall in net profit for the December quarter.
Scrips of the telecom major fell by 3 per cent to hit its 52-week low of Rs 282.30 on the BSE.
At NSE, the counter slipped 3.12 per cent to Rs 282.30 - its one year low.
Bharti Airtel yesterday posted an over 22 per cent fall in its net profit at Rs 1,117 crore for the third quarter of the current fiscal, dragged down by higher finance costs and charges for network upgradation as also the restructuring activities in some countries.

The company had registered a net profit of Rs 1,436 crore for the corresponding quarter last fiscal, Airtel had said in a statement.
The country's largest telecom player said its bottomline was hit by exceptional items that include a charge of Rs 115.2 crore towards operating costs on network refarming and upgradation programme, Rs 231.3 crore on restructuring activities in some countries and interest costs, among others.
The total revenue, however, rose 3.7 per cent to Rs 24,066 crore for the quarter under review as compared with Rs 23,217 crore in the year-ago period.