Bharti Airtel Stocks Rise 2% on Strong Q4 Performance
During the day on the BSE, the stock went up 3.78 percent to Rs 1,155.95. It ended up 2.17 percent at Rs 1,137.90.
Bharti Airtel Stocks Rise 2%: There was a 54% rise in combined net profit to Rs 2,442.2 crore in the December quarter, which made Bharti Airtel’s shares go up by over 2% by Tuesday evening.
Bharti Airtel Stocks Rise 2% on Strong Q4 Performance
During the day on the BSE, the stock went up 3.78 percent to Rs 1,155.95. It ended up 2.17 percent at Rs 1,137.90.
The company’s shares went up 2% on the NSE and ended the day at Rs 1,135.90. The price of the stock went up 3.82% during the day to Rs 1,156.10.
During the day, 2.04 lakh shares of the company were traded on the BSE and over 98.63 lakh shares were moved on the NSE.
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The consolidated net profit of Bharti Airtel jumped 54% to Rs 2,442.2 crore in the December quarter, the company said on Monday. This was mostly due to more high-value users.
A report with the government said that the company made a profit of Rs 1,588.2 crore last year.
The total income from operations rose 5.8 percent from Rs 35,804.4 crore in the third quarter of last fiscal year to Rs 37,899.5 crore in the third quarter of this fiscal year, even though African currencies lost value during the time.
Bharti Airtel’s Managing Director, Gopal Vittal, said in a statement, “Revenue from India business kept up its momentum and grew sequentially by 3%.” However, the devaluation of the Nigerian Naira and the Malawian Kwacha had an effect on consolidated revenue.