Page 19 - Bharti Airtel

Bharti Airtel Q3 results: Consolidated net profit rises 54% to Rs 2,442 cr

ARPU rises to Rs 208 from Rs 203 in Q2

Bharti Airtel Q3 results: Profit jumps 54% to Rs 2,442 cr; revenue up 5.8%

Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023

Bharti Airtel to allot 3.86 million equity shares to certain FCCB holders

Bharti Airtel on Friday said it will allot 38.6 lakh equity shares to certain FCCB holders at a conversion price of Rs 518 per equity share. This follows receipt of notice for conversion of FCCBs (Foreign Currency Convertible Bonds) of principal value of USD 27,795,000 from the FCCBs holders. Accordingly, it said, the paid-up equity share capital of the company has increased. The telco's committee of directors for fundraising approved the allotment of shares to these FCCB holders on Thursday, according to a regulatory filing. "...upon receipt of notices for conversion of FCCBs of principal value of USD 27,795,000 from certain FCCBs holder(s), the Special Committee of Directors for Fund Raising has, today, that is on February 01, 2024, approved the allotment of 3,864,800 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holder(s) of FCCBs," the filing said. FCCB is a debt instrument to raise funds from overseas market. Such

Stocks to Watch today: Axis, HDFC Bk, LTFH, Airtel, Lupin, REC, JSW Energy

Stocks to watch on Wednesday, January 24, 2024: Bajaj Auto, Canara Bank, DLF, Exide, Indian Oil, Tata Steel, Tech Mahindra and TVS Motor to announce Q3 results today.

Ram Mandir inauguration: Telcos enhance network connectivity in Ayodhya

DoT and other central, state, and municipal departments ensured speedy approvals in providing space for towers, movement of material, and manpower, thus enabling immediate execution, Vi said

Airtel loses 1.2 million users, Jio gains 1.84 million in October: Trai

Trai data suggests that Airtel's market share was flat at 32.85 per cent in October and Jio's share rose to 39.30 per cent

Airtel Africa names Sunil Taldar CEO, Olusegun Ogunsanya to retire in July

Ogunsanya will retire on July 1, 2024, after a 12-year-long stint in the company. He had run the Nigeria Operations of the Telecommunications and mobile money company for nine years before Airtel

Bharti Airtel Services set to acquire 97.1% stake in Beetel Teletech

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company, according to a filing. Pegging the cost of acquisition at Rs 669 crore, the filing said this acquisition is a part of the company's strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government's policy of Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business. "...as a part of group restructuring, Bharti Airtel Services Limited, a wholly-owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1 per cent stake in another Bharti Group company, Beetel Teletech Limited, which also has 49 per cent stake in Joint Venture having two manufacturing facilities which produce .

Airtel to seek reversal of Rs 24.9 lakh penalty order received under CGST

Bharti Airtel on Tuesday said it does not agree with an order it received under the Central Goods and Services Tax Act for levy of Rs 24.94 lakh penalty, and will take suitable action for rectification or reversal. The violation pertains to alleged irregular input tax credit claim from 2017-18 to 2021-22 and other related matters, Airtel said in a BSE filing. Submitting details of the orders received by the company under the Central Goods and Services Tax Act, Airtel said the order was received on December 24. The order entails a levy of a penalty of Rs 24,94,316, it said, adding, "the company does not agree with the order and will take appropriate action for rectification/reversal of the same." "The maximum financial impact is to the extent of the penalty levied," it said.

Telcos likely to show little interest in upcoming spectrum auction

The telcos already have ample spectrum with them. With little scope for 5G monetisation, telecom companies do not see the need to spend towards acquiring more spectrum

Airtel Business, IntelliSmart to connect 20 mn smart meters with IoT

Telecom operator Bharti Airtel has entered into a strategic partnership with IntelliSmart Infrastructure to connect up to 2 crore smart meters with internet of things technology, the company said on Thursday. The project is estimated to be executed over a period of next 10 years. "This marks Airtel's foray into smart metering applications such as head end system, along with Cloud and Analytics. This is the one of the largest deals in the smart metering space in the country and will significantly contribute towards Airtel's fast-growing IoT deployment across sectors," Airtel said in a statement. The company said its proprietary platform the "Airtel IoT Hub" will help the utility track and monitor these smart meters with advanced analytics while maintaining extremely high reliability augmented with telco grade security. "IoT is one of the fastest-growing business segments for Airtel Business and, with this deal, we are now strategically positioned to play a pivotal role in driving th

Reliance Jio gains 3.47 mn, Vi loses 0.74 mn users in September: Trai

Bharti Airtel, the second-largest player in the market, saw its subscriber count increase by 1.32 million users

Dialling in: Admin price rings louder than satellite spectrum auction bid

while the market for satellite broadband currently is small ($10-15 million), the potential is large as an estimated 30% of the country does not have reliable terrestrial broadband services

Telecom Bill 2023: GMPC players may get spectrum at administered price

As the government tables the Telecommunications Bill, 2023 in Lok Sabha, the move is seen as a big win for Sunil Mittal's OneWeb, which had been pushing for the same

Sensex, Nifty snap 7-day winning run, end marginally down; Paytm cracks 19%

Closing Bell on December 7, 2023: Broader indices, however, outperformed on Thursday - the BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Trai directs Jio, Airtel to clarify terms on unlimited 5G data offerings

Bharti Airtel and Reliance Jio have both clarified that unlimited does not equate to infinity as data usage is restricted by speed and network

M-cap of 9 of 10 most valued firms up Rs 1.30 trn; Airtel, TCS gain

The combined market valuation of nine of the top-10 most valued firms climbed Rs 1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities. Last week, the BSE benchmark jumped 1,511.15 points or 2.29 per cent. Barring Reliance Industries, nine other companies including HDFC Bank, ICICI Bank, Infosys and Hindustan Unilever witnessed addition in their market valuation. Bharti Airtel's valuation rallied Rs 23,746.04 crore to Rs 5,70,466.88 crore. The market capitalisation (mcap) of TCS jumped by Rs 19,027.07 crore to reach Rs 12,84,180.67 crore. HDFC Bank added Rs 17,881.88 crore, taking its market valuation to Rs 11,80,588.59 crore. ITC's mcap climbed Rs 15,159.02 crore to Rs 5,61,159.09 crore and that of Bajaj Finance soared Rs 14,480.29 crore to Rs 4,48,446.82 crore. The valuation of ICICI Bank surged Rs 12,085.42 crore to Rs 6,63,370.71 crore and that of Hindustan Unilever ad

Bharti Telecom buys 1.35% stake in Bharti Airtel for Rs 8,301 crore

Bharti Telecom on Friday bought a 1.35 per cent stake in telecom provider Bharti Airtel for Rs 8,301 crore through an open market transaction. Bharti Telecom is the largest promoter of Bharti Airtel Ltd with a 38.35 per cent stake as of September 30. According to the block deal data available with the National Stock Exchange (NSE), Bharti Telecom purchased more than 8.11 crore shares, amounting to a 1.35 per cent stake in Bharti Airtel. The shares were acquired at an average price of Rs 1,023 apiece, taking the aggregate transaction value to Rs 8,301.73 crore. Meanwhile, another promoter group firm Indian Continent Investment Ltd offloaded the same number of shares of Bharti Airtel at the same price. At the end of the September quarter, Bharti Telecom owned a 38.35 per cent stake while Indian Continent Investment Ltd had a 5.93 per cent stake in Bharti Airtel, shareholding data pattern showed with the bourse. On Friday, shares of Bharti Airtel fell 0.27 per cent to close at Rs 1,

Bharti Telecom acquires 1.35% stake in Bharti Airtel through block deal

Bharti Telecom's stake in Bharti Airtel now stands at 39.59 per cent

Airtel explores $1bn fundraising to prepay majority of 2015 spectrum dues

Bharti Airtel bought a spectrum worth Rs 29,130.20 ($3.54 billion) during an auction in March 2015 out of which Rs 10,000-12,000 crore remains in dues