Bharti Airtel: A spike of 10% in shares
Increase in March Quarter Revenue
Tuesday, 19th May 2020
The average revenue per user of Bharti Airtel has gone up from Rs 123 to Rs 154 in March quarter end. The share increased 10% on Tuesday.
There was a spike of Rs 584.20 on BSE. Rs 23,722.7 crore was the revenue from operations in 2019-2020’s fourth quarter, almost 15.15% that is, said Bharti Airtel on Monday.
The net loss was Rs 5,237 crore for 2019-20’s fourth quarter as a result of one-time spectrum charges. The net profit previous year was Rs 107.2 crore, reported Bharti Airtel.
Its mobile services’ revenue increased 21.8% on yearly basis in the country.
The company suffered a net loss of Rs 32,183.2 crore for the financial year 2019-20 against a net profit of Rs 409.5 crore the previous year.
In the S&P BSE Telecom index, an intraday surge of 8.65% in benchmark indices S&P BSE Sensex and NSE Nifty 50 in morning deals was Bharti Airtel’s stock.
The company traded 9.05% higher on the bourse at Rs 586.85 at 10: 54 am. This exceeded the benchmark S&P BSE Sensex index that was almost 2.16% supported by broad-based gains.
Source: NDTV
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