India's market leader Bharti Airtel has reported a 10th straight decline in quarterly profits. Overcrowding has forced prices to rock bottom, and an uncertain regulatory environment is preventing consolidation.

Top telecoms carrier Bharti Airtel reported its 10th straight quarter of profit decline as competition squeezed margins despite gaining subscriber market share from some of its smaller rivals.

Robust performances by Singapore Telecommunications Ltd's units in Indonesia and Thailand helped Southeast Asia's largest telecoms firm reverse four straight quarters of falling year-on-year profits.