Bharti Airtel good, Idea Cellular better

Written by fe Bureau | Mumbai | Updated: Jul 30 2014, 13:15pm hrs
BhartiBharti Airtel reported a net income that was higher by 61% on-year at Rs 1,110 crore in the three months to June.
Bharti Airtel on Tuesday reported a net income that was higher by 61% on-year at Rs 1,110 crore in the three months to June, reports fe Bureau in Mumbai. Revenues at the Sunil Mittal-promoted wireless carrier rose 13% to Rs 22,960 crore, beating Bloomerg consensus estimates.

However, the firms performance in Africa, where it has operations in 17 countries, was modest. Last week, the K M Birla Groups Idea Cellular had turned in a stellar set of numbers for the June quarter with margins in its 15 established circles hitting 34%.

The consolidated net income came in at Rs 730 crore, up 57% y-o-y, well ahead of estimates. Analysts, however, remain cautious about the entry of Reliance Jio into the market.

Bharti Airtel