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Tuesday, November 24, 2020

Bharti Airtel shares jump nearly 13% as telco logs highest-ever quarterly revenues

The stock gained 12.65 per cent to Rs 487.80 on the BSE. On the NSE, it zoomed 12.61 per cent to Rs 488.

By: PTI | New Delhi | October 28, 2020 1:22:26 pm
bharti airtel, bharti airtel news, bharti airtel carlyle group deal, bharti airtel nxtra, bharti airtel data centre business, bharti airtel nxtra stake sale, business news, indian express businessSignage for Bharti Airtel Ltd. is displayed atop one of the company's stores in Mumbai, India, on Saturday, April 21, 2018. (Photographer: Dhiraj Singh/Bloomberg)

Shares of Bharti Airtel jumped nearly 13 per cent on Wednesday after the company reported its highest-ever quarterly consolidated revenue on the back of a rise in data usage and higher realisations.

The stock gained 12.65 per cent to Rs 487.80 on the BSE.

On the NSE, it zoomed 12.61 per cent to Rs 488.

The country’s second largest telecom operator, on Tuesday reported its highest-ever quarterly consolidated revenue on the back of a rise in data usage and higher realisations, helping it narrow losses in the July-September period.

Consolidated revenue rose 22 per cent to Rs 25,785 crore in the September quarter while net loss narrowed to Rs 763 crore.

The quarterly showing was bolstered by an all-round growth across the portfolio — geographies and segments, and rise in average revenue per user (ARPU) as well as strong 4G additions.

The net loss (before exceptional items) for Q2 FY21 was at Rs 744 crore while loss after exceptional items stood at Rs 763 crore.

Airtel’s revenue at Rs 25,785 crore in the just-concluded quarter marked the “highest ever consolidated quarterly revenues”.

In the September quarter, India revenue rose 22 per cent year-on-year to Rs 18,747 crore led by strong 4G customer momentum.

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