Bharti Airtel is trading higher by nearly 3% at Rs 369, extending its previous day’s 5% rally, after reported a strong set of operating numbers for the quarter ended September.
The stock opened at Rs 356 and touched high of Rs 370, its highest level since January this year on BSE. A combined 4.08 million shares have changed hands on the counter so far on BSE and NSE.
Bharti’s consolidated operating margins rose 142 basis points year-on-year (yoy) to 32% for the quarter ended September 2013 (Q2). The company’s net profit however, fell 29% yoy, and 25.7% sequentially, to Rs 510 crore, due to forex restatement and derivative losses of Rs 342 crore during the quarter.
Consistent improvement on operational parameters, good growth in data services and signs of growth picking up in Africa are likely to drive the company’s business growth in the upcoming quarters as well, says analyst at Angel Broking in a note.
The stock opened at Rs 356 and touched high of Rs 370, its highest level since January this year on BSE. A combined 4.08 million shares have changed hands on the counter so far on BSE and NSE.
Bharti’s consolidated operating margins rose 142 basis points year-on-year (yoy) to 32% for the quarter ended September 2013 (Q2). The company’s net profit however, fell 29% yoy, and 25.7% sequentially, to Rs 510 crore, due to forex restatement and derivative losses of Rs 342 crore during the quarter.
Consistent improvement on operational parameters, good growth in data services and signs of growth picking up in Africa are likely to drive the company’s business growth in the upcoming quarters as well, says analyst at Angel Broking in a note.
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