Mumbai, July 23 - Beating forecasts by analysts, telecom major Bharti Airtel posted a 22.2 percent increase in net profit for the first quarter of 2009-10 at Rs.2,647.95 crore (Rs.26.48 billion / $547 million).

The company's total income during the period under review rose 22 percent to Rs.10,448.69 crore from Rs.8,567.8 crore in the same period a year ago, it said in a regulatory statement.

The increase in profits was also because of a Rs.250 crore gain as pay-outs on its foreign currency loans fell due to rupee appreciation.

'This good performance validates our rural thrust and investments in the past three years,' said chairman and managing director of Bharti Airtel, Sunil Bharti Mittal.