Shares of Bharti Airtel rose as much as two percent on Tuesday ahead of its Q3 results due later in the day. However, it soon erased initial gains and slipped into the red.

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At 1212 IST, the stock was down 0.4 percent at Rs 703.85 on BSE.

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Bharti Airtel's revenue is expected to grow 5.6 percent on a Quarter-on-Quarter basis to Rs 29,900 crore while a CNBC-TV18 poll expects the telecom operator to report a profit of Rs 1,220 crore as compared to Rs 1,134 crore in Q2 FY22.

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Revenue growth will be driven by an increase in Average Revenue Per User (ARPU) and partly offset by a decline in subscriber base. The Street expects ARPU to increase to Rs 164 from Rs 153, a more than 7 percent rise.

CNBC-TV18 poll expects ARPUs to further rise in Q4 FY22 and Q1 FY23.

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