Bharti Airtel, on Wedenesday, reported its 11th consecutive quarter of net profit dip as rising costs and competition squeezed margins, forcing the company to look at increase in tariff.
The net profit in the July-September quarter dropped by 29.7 per cent to Rs.721.20 crore from Rs.1,027 crore in the year ago period. The profit in the second quarter was 5 per cent lower than Rs.762.20 crore earning in the April-June period of current fiscal.
“We have lost about 40 per cent pricing power in the last 12 quarters. Given the inflation that has hit this country over the last 12 quarters, least we deserve is to go back to the levels we were at,” Bharti Airtel CEO for India and South Asia Sanjay Kapoor told reporters here.
The company said network cost had increased so as competition, putting pressure on margins.
