Bharti Airtel trades weak despite strong Q4; down 5% from intra-day high

In the past one week, Airtel has underperformed the market by falling 4 per cent, as compared to 0.28 per cent rise in the Sensex.

Shares of Bharti Airtel were down 3 per cent to Rs 689.05 on the BSE in Wednesday’s intra-day trade. The stock erased opening gains despite the company reported nearly three-fold increase in net profit to Rs 2,008 crore in the March quarter results (Q4FY220, led by gains from tariff hike and exceptional income. In the same quarter last year, India's second biggest telecom operator had posted net profit of Rs 759 crore.

The stock of Bharti Airtel slipped 5 per cent from its intra-day high of Rs 727.55. While it opened 2.5 per cent higher at Rs 725.40 on