![]() Buy Bharti Airtel, target of Rs 1010: Asit C. MehtaPublished on Fri, Aug 01, 2008 at 12:56 | Source : Moneycontrol.com Updated at Fri, Aug 29, 2008 at 12:43 Asit C. Mehta has maintained its buy rating on Bharti Airtel with a target price of Rs 1010 in its July 31, 2008 research report. "During the quarter ended June 2008, the revenues increased by 44.8% to Rs 85060 million. The operating profit during Q1FY09 was up by 44.6% at Rs 34685.2 million. The Operating Profit Margin (OPM) have been flat at 40.8% in Q1FY09.This is mainly due higher network operating cost due to higher fuel and electricity cost. Net Profit grew by 52% YoY to Rs 21666.7 million. Despite decline in interest income (from Rs 2649 million to Rs 945 million), profit growth was higher on account of lower tax expenses." "Despite increasing competition and the regulatory policies we believe that with strong earning visibility and excellent execution record, Bharti will continue to be the market leader with 25% market share by the end of FY10. Accordingly, we continue to maintain BUY on "Bharti Airtel Ltd" with a price target of Rs 1010," says Asit C. Mehta's research report. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. For further details click on attachment...... Attachments : Bharti Airtel Ltd-Result Update.pdf
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