Bharti Airtel drops after reducing pre-paid data tariffs

Bharti Airtel lost 0.63% to Rs 376.10 at 10:14 IST on BSE after the company announced reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs.

The announcement was made yesterday, 17 July 2016.

Meanwhile, the S&P BSE Sensex was up 136.22 points or 0.49% at 27,972.72.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 2.19 lakh shares in the past one quarter. The stock hit a high of Rs 380 and a low of Rs 375.70 so far during the day. The stock had hit a 52-week high of Rs 452.45 on 21 July 2015. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had outperformed the market over the past one month till 15 July 2016, gaining 7.59% compared with Sensex's 4.15% rise. The scrip had, however, underperformed the market in past one quarter, advancing 7.59% as against Sensex's 8.62% rise.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel announced an effective reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs with effect from 17 July 2016. Airtel customers will now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content, the company said.

Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%. Similarly, the Rs 455 pack 4G/3G pack now offers 50% more data by increasing data benefit to 3 GB from 2 GB. The Rs 989 4G/3G pack will now offer 10 GB data vs 6.5 GB earlier, offering 54% more benefits. 2G/3G/4G Sachet Packs also see major increase in benefits. The Rs 25 2G pack now offers 45% more data at 145 MB vs 100 MB earlier, while the Rs 145 4G/3G pack now offers 32% more data benefits at 580 MB vs 440 MB earlier. Even the Rs 5 one day 2G data pack benefits have been increased by 48% to 30 MB keeping in mind non-regular/first time users, particularly in rural markets.

Bharti Airtel's consolidated net profit rose 2.8% to Rs 1290.30 crore on 8.4% growth in net sales to Rs 24959.60 crore in Q4 March 2016 over Q4 March 2015.

Bharti Airtel ranks amongst the top three mobile service providers globally in terms of subscribers. The company has its operations in 20 countries across Asia and Africa.

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