Bharti Airtel drops after reporting dismal Q1 results

Bharti Airtel dropped 0.81% to Rs 424.15 at 10:10 IST on BSE after consolidated net profit fell 58.4% to Rs 617.70 crore on 14% decline in revenue to Rs 21958.10 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 25 July 2017.

Meanwhile, the S&P BSE Sensex was up 69.20 points, or 0.21% to 32,297.47.

On the BSE, 1.31 lakh shares were traded in the counter so far, compared with average daily volumes of 3.71 lakh shares in the past one quarter. The stock had hit a high of Rs 430 and a low of Rs 421.65 so far during the day. The stock had hit a 52-week high of Rs 431 yesterday, 25 July 2017. The stock had hit a 52-week low of Rs 283.95 on 9 November 2016.

The stock gained 16.86% over the past one month till 25 July 2017, outperforming the Sensex's 3.5% rise. The scrip had underperformed the market in past one quarter, rising 20.74% as against Sensex's 7.63% rise. The scrip had also outperformed the market in past one year, gaining 15.47% as against Sensex's 14.71% rise.

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

Bharti Airtel's revenue in Q1 June 2017 dropped primarily due to decline of mobile revenues in India. In addition, currency devaluation in Nigeria had an impact on revenue growth of 2.6%.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin for Q1 June 2017 dropped to 35.6% as compared to 37.5% in Q1 June 2016.

As on 30 June 2017, the company had 37.99 crore customers, an increase of 6.2% (10.2% underlying) as compared to 35.78 crore in the corresponding quarter last year.

Bharti Airtel is a leading global telecommunications company with operations in 17 countries across Asia and Africa.

Powered by Capital Market - Live News