Bharti Airtel Shares Flat After Q2 Earnings
Nov 01, 2023 17:43
Bharti Airtel shares closed flat on Wednesday after the company reported a 37.5% drop in Q2 net profit to Rs 1,341 crore. The stock fell during the day but recovered slightly.
New Delhi, Nov 1 (PTI) Shares of Bharti Airtel on Wednesday ended on a flat note a day after the company reported a 37.5 per cent year-on-year fall in consolidated net profit to Rs 1,341 crore for the September quarter.
The stock fell 1.99 per cent to Rs 896 during the day on the BSE. It later ended at Rs 914.40, up marginally by 0.02 per cent.
On the NSE, it fell 2 per cent to Rs 895.45 during the trade. Shares of the firm later closed at Rs 913, down 0.15 per cent.
Bharti Airtel on Tuesday reported a 37.5 per cent year-on-year fall in consolidated net profit to Rs 1,341 crore for the September 2023 quarter, weighed down by a one-time exceptional charge.
The company saw its Q2 FY24 total revenue climb 7.3 per cent year-on-year to Rs 37,044 crore "backed by strong and consistent performance in India operations".
"After accounting for loss of Rs 16,190 million towards exceptional items (net of tax and non-controlling interests)... the resultant net income for the quarter ended September 30, 2023, came in at Rs 13,407 million, compared to a profit of Rs 21,452 million in the corresponding quarter last year and profit of Rs 16,125 million in the previous quarter," Bharti Airtel said in its quarterly report.
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