Bharti Airtel’s net profit drops 26%

Telecom major Bharti Airtel on Wednesday reported a 25.8 per cent fall in its net profit at Rs.1,432.3 crore for the quarter ended June 30, according to Indian accounting standards.The company posted a net profit of Rs.1,930.9 crore in the previous corresponding period. Net sales of the company, however, rose to Rs.10,180 crore during the period under review, up from Rs.9,323.7 crore it logged in the April-June quarter of 2010, according to a regulatory filing by the firm.Reacting to the news, the company’s stocks at the Bombay Stock Exchange fell over 4.3 per cent to an intra-day low of Rs.413.10. From / Gulf Today