Bharti said consolidated net profit fell 41 percent to Rs.13.03 billion ($286 million) for its third-quarter ended December, from Rs.21.95 billion a year ago, based on international accounting standards.

Revenue rose 53 percent to Rs.157.56 billion from Rs.103.05 billion a year ago.

Bharti competes in India with 14 other companies.

Analysts say consolidation is inevitable in the overcrowded sector, but a probe into allegations that telecoms licenses and radio airwaves were given out too cheaply is a big overhang on the industry and regulatory rules stymie takeovers.

Loss related to Bharti's Africa business was at Rs.5.25 billion in the quarter ended on Dec. 31.

"Our objective is to make the operations very profitable, revenue growth has picked up well," said Manoj Kohli, Bharti Airtel's CEO for international operations, referring to the company's operations in Africa.

Bharti has cut prices in 10 out of 16 African nations to boost usage and is looking for long-term growth rather than turning a quick profit on the continent, a move that is hurting rivals such as Kenya's Safaricom.

"Our objective is to provide affordability in Africa," said Kohli.