Bharti Airtel Shares Gain On Better Than Expected Results

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Shares of Bharti Airtel rose more than 2 per cent on Wednesday after the company reported better than expected results yesterday. 

The telecom company's second quarter net profits  fell by 4.9% to Rs 1,461 crore. There was 3.4% rise in company's total revenues to Rs 24,652 crore against Q2 September 2015.

Bharti Airtel Shares Gain On Better Than Expected Results

Bhart Airtel's net income stood at Rs 1,461 crore against Rs 1,536 crore a year earlier. Bharti Airtel's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 9,466 crore, up 14.5% from Rs 8,265 crore last year. EBITDA margin stood at 38.4%, up 3.7% year-on-year.

As per the data, revenues in India rose by 10.1% to Rs 19,219 crore against Q2 September 2015.

Gopal Vittal, MD and CEO, India & South Asia at Bharti Airtel said "Overall revenue momentum in India has been sustained primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 per cent y-o-y."

Shares of Bharti Airtel were seen trading at Rs 318, higher by 2.36 per cent on BSE at 1.14 pm IST. It touched an intra-day high of Rs 322 during trade.

Read more about: bharti airtel, idea cellular
Story first published: Wednesday, October 26, 2016, 13:45 [IST]
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