Jio nightmare becomes very real for Bharti as profit plunges 75%

What could have been described as a headache for the last couple of months has progressed into full blown migraine, as the Jio challenge hits Bharti Airtel hard in the wallet.
The company has just reported its results for the quarter ending June 30 and it isn’t pretty at all. Total revenues dropped to 219.58 billion rupees, a year-on-year decline of 14%, whereas profits were slashed by 75% to 3.67 billion rupees. It is the lowest profit at Bharti Airtel since December 2012, though the only