Bharti Airtel Fourth-Quarter Net Profit Fell on African Currency Devaluation

By Najat Kantouar

Bharti Airtel's fourth-quarter net profit fell from a year earlier due to African currencies' devaluation, particularly the Nigerian Naira

The Indian telecom company said Tuesday that net profit decreased 31% from a year earlier to 20.71 billion rupees ($248 million) for the three months ended March 31.

That missed the estimate of INR27.43 billion in a poll of analysts by FactSet.

Airtel business revenue grew 14.1% year-on-year, driven by growth in underlying portfolio and the consolidation of Beetel.

Fourth-quarter revenue rose 4.4% from a year earlier to INR375.99 billion.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

05-14-24 0730ET