Bharti Airtel rallies 10% after Q4 earnings, hits 1-year high

PTI New Delhi | Updated on May 19, 2020 Published on May 19, 2020

A Bharti Airtel advertisement board   -  REUTERS

Shares of Bharti Airtel on Tuesday zoomed 10 per cent after the company reported consolidated revenue of ₹23,722.7 crore during the reported quarter on broad-based strength, with all segments registering healthy underlying growth.

The telco, however, posted a consolidated loss of ₹5,237 crore for the January-March quarter of 2019-20 financial year, mainly on account of making provision for paying statutory dues.

Its stock surged 9.99 per cent to ₹591.95 -- its 52-week high -- on the BSE.

On the NSE, it jumped 9.99 per cent to its one-year high of ₹591.85.

Bharti Airtel was the top gainer on both Sensex and Nifty during early trade.

The company said that March 2020 numbers were not comparable with prior the period due to adoption of ‘Ind AS 116’ accounting system with effect from April 1, 2019.

It posted exceptional items totalling ₹7,004 crore during the quarter ended March 31 comprising charges on account of reassessment of regulatory cost based on a recent order on one time spectrum charge, interest on provision of license fee and spectrum usage charges, and other heads.

The company statement pegged net loss (before exceptional items) for March quarter at ₹471 crore, and net loss (after exceptional items) at ₹5,237 crore.

Bharti Airtel said the company has undertaken a capex investment of ₹25,359 crore during the year to ensure strong customer experience besides front-ending some investment to ensure seamless services during the ongoing pandemic.

Published on May 19, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.