Bharti Airtel’s share price increased by Rs 603 to 123% as compared to BSE’s previous close of Rs 538.15. The Sunil Mittal-led Telco stock rose 11.34%, or Rs 61, to close at Rs 599.15 on the Sensex.
Despite Telco reporting an astonishing loss of Rs 5,237 crore for the quarter ended March 2020, Bharti Airtel’s share price on the Sensex and Nifty today reached an all-time high. Bharti Airtel’s share price reached a record high of 603% 12.05%. Previous 538.15 on BSE was Rs.
The Sunil Mittal-led Telco stock closed up 11.34% or Rs 61 to close at Rs 599.15 on the Sensex. Also on the Nifty, Bharti Airtel stock remained at a high of 10.81% or Rs 58.15.
The stock of Bharti Airtel climbed 12.16% to a record high of Rs 603.50 on the Nifty as compared to its previous close of Rs 538.05. The large-cap stock opened at Rs 559 with a gain of 3.87% on BSE.
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Bharti Airtel posted a net loss of Rs 32,183 crore in FY 2015; Revenue 8%
Bharti Airtel stock exceeds 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Bharti Airtel’s stock has risen 82.56% during the last one year and 31.45% since the beginning of this year.
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Bharti Airtel reported a consolidated loss of Rs 5,237 crore for the January-March quarter of the 2019-20 financial year primarily based on the provisions of statutory liabilities.
The telecom company took into account regulatory costs of Rs 7,004 crore related to spectrum charges, resulting in higher-than-expected losses. The company made a profit of Rs 107.2 crore in the same period a year ago.
Average Revenue Per User (ARPU) became the highest in three years. In Q4, Average Revenue Per User stood at Rs 154 in the previous quartern was Rs 135. On a year-on-year basis, ARPU grew by 25%.
The firm recorded an 8.1 percent gradual increase in revenue growth to Rs 23,723 crore. This was Airtel’s highest revenue growth in nearly the previous 30 quarters. Revenue increased due to tariff increases in December.
For the first time since 2014, Airtel announced new plans from December 3, 2019, which would be 42% higher than the price that Airtel’s pre-paid customers paid for plans in the “Unlimited” category.
Operating profit increased 10.1 percent to Rs 10,202 crore.
The margin grew 80 basis points to 43 percent.
Bharti Airtel said it saw an increase in data traffic during the COVID-19 epidemic, which prompted the government to implement a tight lockdown from the end of March.
More than 10 million new 4G customers were added in the quarter.