Bharti Airtel’s Q1 net drops 9.6 percent

India’s largest telecom service provider Bharti Airtel’s net profit dropped 9.6 percent during the first quarter (April-June) of fiscal 2013-14, a company release said here Wednesday.

It has clocked a net profit of Rs.688.9 crore for the first quarter, compared to Rs.762.2 crore during the corresponding period last fiscal. This is the 14th consecutive fall in the company’s quarterly net profit.

“Our results for the quarter reflect the overall stability of our operations and demonstrate the potential for growth, particularly seeing robust data growth across all geographies.

“Results for Airtel India reflect rationality returning to the sector, which needs to be complemented by a more enabling regulatory environment for a deeper penetration of telecom and broadband services,??? Sunil Bharti Mittal, Chairman, Bharti Airtel Limited, said in the statement.

However, the company’s total income was up 9.3 percent at Rs.20,299.5 crore for the first quarter against Rs.18,570.3 crore during the corresponding period last fiscal.