With the rising competition in the domestic market and growing interest costs, Bharti Airtel Ltd. third quarter ended on December 2010 posted a 41 per cent drop in its net profit to 13.03 billion rupees ($287 million). Last year the company had recorded a net profit of 21.95 billion rupees.

While India's largest mobile phone Company by users, Bharti has recorded a rise in revenue by 53% to 157.56 billion rupees as compared to last year’s 103.05 billion rupees.

Bharti Airtel recorded a net profit of Rs 1303.3 crore in the quarter ended on December 2010 which is 21.5 % lesser than the previous quarter’s net profit of Rs 1661 crore.

However third quarter recorded rise in net sales by 3.55 % to Rs 15,756 crore as compared to Rs 15, 215 crore in the previous quarter.

Analysts believes that one time cost of Rs. 340 crore for brand re-launching and Forex restatement cost of Rs. 150 crore added to the erosion in bottom line.

Bharti Airtel recorded Ebitda margin of 25.1% from African operations with 47 million customer base. Whereas Ebitda margin of 37.3 per cent was recorded for India and South Asian markets with the customer base of 207.8 million.

Third quarter results were based on international accounting standards.