The price war in the telecom sector took its toll on Bharti Airtel which posted a net profit of Rs.2,209.8 crore (Rs.22.098 billion/$479 million) for the quarter ended Dec 31, a modest 2.4 percent rise from the same quarter last fiscal.

As per the US accounting methods, the company’s income grew a little over one percent in the October-December quarter to Rs.9,722.2 crore compared to Rs.9,633.4 crore in the last corresponding period.

The Bharti scrip rose to Rs.329.80 following the announcement, a rise of 2.37 percent over its previous close. It later slipped and was trading at a loss of 0.2 percent at Rs.321.50 around 11.30 a.m.