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India's big 2 mobile carriers fall into red, but upstart surges

Airtel and Vodafone weighed down by 4G investments as Reliance Jio adds subscribers

Bharti Airtel saw its bottom line driven down by depreciation and amortization expenses, as did peer Vodafone Idea.   © Reuters

MUMBAI -- Indian mobile carriers Bharti Airtel and Vodafone Idea suffered losses for the three months ended June as they spent to expand 4G coverage areas, while emerging player Reliance Jio Infocomm boosted its profit.

Airtel reported a net loss of 28.6 billion rupees ($410 million), sinking into the red from a year-earlier profit of well over 900 million rupees. The New Delhi company did lift earnings before interest, taxes, depreciation and amortization, driven by higher mobile average revenue per user in India. But depreciation and amortization expenses jumped 31% to 67.5 billion rupees.

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