Bharti Airtel surges on hopes of better-than-expected Q4 earnings
Idea Cellular, its closest rival, has reported a better-than-expected Q4 earnings on back of growth in voice minutes and high data usage.
Bharti Airtel has surged 5% to Rs 320 after its closest rival, Idea Cellular has reported a better-than-expected 30% year-on-year jump in consolidated net profit for the quarter ended March 2013 (Q4) on back of growth in voice minutes and high data usage.
Bharti Airtel’s board is schedule to meet on May 02, to consider the audited financial results for the 4th quarter (Q4) and financial year ended March 31, 2013. As per revenue market share (RMS) data for 3QFY2013, Bharti Airtel leads at 30.5% with a subscriber market share (SMS) of 21.1%, whereas Idea Cellular has its RMS and SMS at 15.1% and 13.3%, respectively.
The stock opened at Rs 311 and touched high of Rs 321 on NSE. A combined 3.11 million shares have changed hands on the counter till 1114 hours on NSE and BSE.
Bharti Airtel’s board is schedule to meet on May 02, to consider the audited financial results for the 4th quarter (Q4) and financial year ended March 31, 2013. As per revenue market share (RMS) data for 3QFY2013, Bharti Airtel leads at 30.5% with a subscriber market share (SMS) of 21.1%, whereas Idea Cellular has its RMS and SMS at 15.1% and 13.3%, respectively.
The stock opened at Rs 311 and touched high of Rs 321 on NSE. A combined 3.11 million shares have changed hands on the counter till 1114 hours on NSE and BSE.