Airtel profit falls 55% due to competition from Reliance Jio
Telecom major Bharti Airtel’s consolidated net profit for December quarter fell by around 55% to ₹504 crore, against the year-ago period. The fall was attributed to a tariff war due to Reliance Jio’s entry leading to a sharp fall in money earned per customer. Notably, Airtel had over 36 crore customers overall as on December 31, 2016.