Categories: Business

Bharti airtel stock rally 10 percent despite Rs 5237 cr q4 loss

Photo: FILE

bharti airtel

new Delhi. Bharti Airtel is seeing a sharp jump in the stock today despite a loss of Rs 5237 crore in the fourth quarter. During the trading, the stock has seen a gain of 10 per cent. In fact, the company's losses were mainly due to special provision of Rs 7004 crore. Which is related to spectrum charges. Due to this, the business performance of Alagal Company has been better, due to which the stock has increased. Airtel shares rose 9.99 percent to Rs 591.95 on the BSE during trading. The share price touched a one-year high of Rs 591.85 on the NSE.

Excluding losses, the company's revenue grew by 8.1 percent to Rs 23723 crore as compared to the previous quarter, which is the fastest growth of the company in the last 30 quarter. It has registered a growth of 15% over the previous year. At the same time, operating profit increased by 10 percent to Rs 10202 crore. The margin has seen an increase of 80 base points. With this, the user has increased on average revenue from Rs 135 to Rs 154, which is the highest in the last 3 years.

This post was published on May 19, 2020 12:50 pm

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