New Delhi, Feb. 5 -- Bharti Airtel, India's second-largest telecom operator by market share, reported a 55% year-on-year (YoY) fall in net profit (attributable to owners of the parent) to Rs.6,630.5 crore in the December quarter (Q3) on Thursday.

The drop in profit could be attributed largely to a high base in the year-ago period, when the company reported a net exceptional gain following the reclassification of Indus Towers from associate to subsidiary. Sequentially, net profit fell 2.4% in Q3 from Rs.6,791.7 crore in the preceding quarter.

The company's net profit was also impacted by the recent implementation of the new labour code. The company said the financial implication of new labour codes resulted in increase in provision for g...