Stocks

Bharti Airtel shares zoom 10% on Q2 results

Internet Desk | Updated on October 28, 2020 Published on October 28, 2020

Shares of Bharti Airtel gained as much as 10 per cent to Rs 476.30 in early trade on Wednesday.

After the two days of consecutive fall, the stock has gained momentum on strong second-quarter results.

Earlier on Tuesday, the company announced a consolidated net loss of ₹763 crore for the second quarter ended September 30, as compared to a net loss of ₹23,045 crore in the corresponding period last year.

However, the company reported highest ever consolidated quarterly revenue of ₹25,785 crore during the July-September quarter, up 22 per cent year-on-year (y-o-y) as compared with ₹21,131 crore in the same period last year.

 

The India revenue for the second quarter also grew by 22 per cent y-o-y to ₹18,747 crore, the company said, adding that mobile revenue grew by 26 per cent.

“This is an outcome of the company’s unrelenting focus on winning with quality customers on the back of a solid network, aspirational brand and delivery of a differentiated experience. Resultantly, average revenue per user (ARPU) for the quarter is at ₹162 as compared to ₹128 in the second quarter last year,” it said.

The 4G data customers at 152.7 million are up by 14.4 million for the quarter, the Sunil Mittal-owned company said, adding that the usage metrics remain best in class and the data usage per subscriber is at 16 GBs per month.

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Published on October 28, 2020
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