Bharti Airtel Shares Gain Over 2% Despite Loss In June Quarter

Bharti Airtel shares gained more than 2 per cent on Thursday, a day after the telecom major announced its earnings for the quarter ended June 30. In a regulatory filing late on Wednesday, the company reported a net loss of Rs 15,933 crore in the April-June period, wider manifold compared to a net loss of Rs 2,866 crore in the corresponding quarter a year ago. Bharti Airtel provided Rs 36,832.2 crore towards adjusted gross revenue-related dues as directed by the Supreme Court. Bharti Airtel shares climbed up as much as 2.2 per cent to Rs 579 on the BSE during the session.

At 10:00 am, the shares were trading at Rs 573, higher by 1.1 per cent, on the BSE. The S&P BSE Sensex index was at 38,321, higher by 249 points or 0.6 per cent at the time, and the broader NSE Nifty 50 benchmark at 11,274, up 72 points or 0.6 per cent. 

Bharti Airtel’s revenue from operations rose 15.4 per cent to Rs 23,938.7 crore in the first quarter of current financial year, compared to Rs 20,737.9 crore in the year-ago period.

Bharti Airtel’s average revenue per user – a key metric of how much a telecom company earns from a customer – improved to Rs 157 per month in the quarter ended June 30, from Rs 129 in the year-ago period.