 "Bharti Infratel shares decline nearly 2% after 21% drop in Q1 earnings")
Shares of telecom infrastructure firm Bharti Infratel on Tuesday declined nearly 2 per cent after the company reported a 21 per cent drop in consolidated net profit for the April-June quarter.
At the BSE, it dipped 1.72 per cent to close at Rs 191.20. During the day, it declined 3.44 per cent to Rs 187.85.
The stock went lower by 1.62 per cent to close at Rs 191.10 on the NSE.
Bharti Infratel on Monday reported a 21 per cent drop in consolidated net profit to Rs 704 crore for the April-June quarter.
The net profit stood at Rs 887 crore in the corresponding quarter of previous year, when the company had benefited from certain one-off gains with respect to operating expense reversal and certain tax-related reversal.
The company's board also accepted resignation of D S Rawat as Managing Director and CEO with effect from August 3, 2020.
The consolidated revenues for the first quarter of FY2020-21 came in at Rs 3,505 crore, down 6 per cent year-on-year.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%