Bharti Airtel Shares Gain On Better Than Expected Results

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

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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
Bharti Airtel: Quotes, News
BSE 361.15BSE Quote1.8 (0.50%)
NSE 361.00NSE Quote1.85 (0.51%)

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.

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