Airtel profit flat

Top mobile operator Bharti Airtel is set to announce flat quarterly profit growth after a vicious price war in the world's fastest-growing wireless market began eating into its market share and margins. Rival Reliance Communications, which has been more aggressive in cutting call prices, is expected to be the worst- hit by the price competition and may report its quarterly profit has almost halved. 'I don't think there is room for the situation to worsen, but the pressure on earnings may continue for the next one or two quarters until some consolidation happens,' said KK Mital, head of wealth management at Globe Capital. 'I think it is better to stay away from telecoms stocks for the time.'