By Adriano Marchese
Bharti Airtel Ltd. said Wednesday that net loss widened in the first quarter, missing analyst forecasts, despite a rise in revenue.
For the period ended June 30, the Indian telecom company said net loss was 159.33 billion Indian rupees ($2.13 billion), compared with a loss of INR28.66 billion in the prior year period. The result missed an estimate of INR3.59 billion net loss from a FactSet poll of analysts.
First-quarter revenue increased 15% to INR239.39 billion from INR207.38 billion a year earlier. Analysts expected revenue of INR237.27 billion, according to a FactSet-provided consensus.
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