Stocks

Bharti Airtel rises despite Q1 loss

Reuters Bengaluru | Updated on August 02, 2019 Published on August 02, 2019

The shares of telecom operator Bharti Airtel on Friday were up as much as 4.6 percent to ₹338.9, their biggest daily percentage gain since May 24.

The company had posted the June-quarter net loss of ₹2,866 crore ($413.80 million), while the revenue were up 4.7 percent to ₹20,738 crore.

The mobile revenues grew 2 percent quarter-on-quarter led by 3 percent jump in ARPU after 10 quarters of decline, aided by exit of low ARPU subscribers.

Around 10 million shares changed hands, vs 30-day average of 5.7 million shares.

The rivals Reliance Jio Infocomm posted 45.6 percent jump in quarterly profit and Vodafone Idea posted quarterly loss in the same period.

Published on August 02, 2019
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