Airtel net profit down 75% in Q1

Country's largest telecom company Bharti Airtel's net profit declined by 74.89 per cent to Rs 367 crore in the first quarter ended June. New company Reliance Jio launched tough competition in the field of telecommunications services and the harmful pricing had a bad effect on the functioning of Airtel.Bharti Airtel had earned net profit of Rs 1,462 crore in the corresponding quarter last fiscal. In the first quarter of the current fiscal, Airtel's total income fell 14 percent to Rs 21,958 crore in April-June. In the same period last year, he had earned revenue of Rs 25,546 crore.