Analysts remain bullish on Bharti Airtel despite Rs 31,334 cr pre-tax loss

Most brokerages have maintained a bullish stance on Sunil Mittal-controlled Bharti Airtel despite the company posting a mammoth pre-tax loss of Rs 31,334 crore for the September 2019 quarter (Q2FY20). The loss is due to a provision for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR). The pre-tax loss in the year-ago quarter stood at Rs 1,998 crore.

The numbers were announced post-market hours on Thursday and saw the stock drop to Rs 354 levels on the BSE once the markets opened for trade on Friday. It, however, bounced back as