Bharti Airtel shares fall on India voice, Africa margins

Reuters Posted online: Wednesday, Jan 29, 2014 at 0000 hrs
Mumbai : Bharti Airtel shares fall 1.4 percent, after earlier rising as much as 2.86 percent, after October-December voice minutes on its India mobile network grew 1.47 percent quarter-on-quarter, lagging some analysts' expectations.

Bharti saw an increase of 3.7 billion minutes in its India mobile networks during October-December compared with rival Idea Cellular, which gained 5.7 billion minutes in the same period.

Analysts also point to Africa margins, which were 25.8 percent lower than some expectations.

Bharti Airtel missed expectations but still reported its first quarterly profit rise in four years as the embattled domestic market turns the corner after a years-long price war.

Idea Cellular Ltd's quarterly net profit doubled as it benefited from reduced competition and an increase in voice call prices in the world's second-biggest mobile phone market, but missed analysts' estimates.