March quarter results show 5% rise of Airtel shares
March quarter results show 5% rise of Airtel shares
Bharti Airtel Ltd shares rose 5% on Wednesday after better-than-expected on March quarter results are posted by it.Yes its 4th quarter net profit fell 78% to Rs 83 cr. & its 3 months ending March,as losses were estimated. Airtel's share was up by Rs 18.95 (4.67%) on BSE at 425.05.Low quarterly net profit of co. is due to slashing of international call termination charge by regulator & low tariff by Reliance Jio,our many customers ported numbers to Jio.
Bharti Airtel Ltd shares rose 5% on Wednesday after better-than-expected on March quarter results are posted by it. Yes its fourth quarter net profit fell 78% to Rs 83 crore and its three months ending March, as losses were estimated by analysts.
Bharti Airtel's share was up by Rs 18.95 (4.67%) on the BSE at 425.05. As per report by Mint, low quarterly net profit of the company is due to the slashing of international call termination charge by regulator and low tariff by Reliance Jio Infocomm Ltd and many of our customers ported their phone numbers to Jio.
On 25 April, the overall Q4 FY 18 operating performance recovered sooner than expected, although the business in India occurred loss, the brokerage firm has a buy rating on the company, Nomura said. In the year Airtel suffered 21% till date, but it is bullish on stock.
Stock on Bloomberg, 23 have ‘buy’ rating, four have ‘sell’ rating while six have ‘hold’,while Idea Cellular Ltd which lost 32% in the year so far and have more sell ratings. Out of 26 analysts, 13 have ‘sell’ ratings while six and seven have ‘buy’ and ‘hold’ ratings respectively. Sensex has gained 1.5% in the same period on Benchmark index.
After gaining nearly 50% in 2017, BSE Telecom index, in 2018 so far, BSE Telecom index has slipped 20%. Ref. : https://www.livemint.com/Money/mUtgayFvjbmBGSq51Sm4rO/Airtel-shares-rise-5-on-March-quarter-results.html --- Dated: Apr 25 2018.
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