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Shares of Bharti Airtel rose over 2 per cent in the morning trade today even as the company posted a decline of 28.19 per cent in consolidated net income for the fourth quarter ended March 31, 2012.
The scrip opened the day on a bullish note and further gained 2.25 per cent to Rs 317.30 on the BSE. On the NSE, the stock gained 1.37 per cent to Rs 312.55.
The company has reported a decline of 28.19 per cent in consolidated net income at Rs 1,006 crore for the fourth quarter ended March 31, 2012 hit by higher cost of 3G licence fee amortisation, 3G interest costs, forex losses and tax provisions.
The country’s largest telecom operator had registered a net profit of Rs 1,401 crore in the January-March quarter of the previous fiscal.
“The recent regulatory developments in India will have significant implications on the future of telephony and broadband as well as India’s global competitiveness,” Bharti Airtel CMD, Mr Sunil Bharti Mittal, said.
Total revenue, however, was up by 15 per cent at Rs 18,729 crore for the March quarter compared with Rs 1,293 crore in the year-ago period.
For the full year ended March 31, 2012, the net profit was down 29.6 per cent to Rs 4,259 crore from Rs 6,047 crore in 2010-11. Total revenue stood at Rs 71,451 crore (Rs 59,538 crore), up 20 per cent.
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