Country's largest telecom operator Bharti Airtel disappointed the street on Thursday with the fourth quarter (January-March) net profit rising lower-than-expected 79 percent quarter-on-quarter to Rs 508.6 crore.
Bharti Airtel Thursday reported a fourth quarter(January-March) net profit of Rs 508.6 crore, up 79 percent quarter-on-quarter, but way below what analysts were expecting. Total income increased nearly one percent to Rs 20,448 crore from Rs 20,253.7 crore Q-o-Q, which too was below expectations.
The stock fell 3.2 percent in early trade to Rs 308.55 on the Bombay Stock Exchange after results.
According to the average of a CNBC-TV18 poll, the company was expected to report a net profit at Rs 675 crore on total income of Rs 20,800 crore for the quarter.
Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) increased 5 percent Q-o-Q to Rs 6,487 crore, which was slightly higher-than-expectations of around Rs 6,430 crore.
EBITDA margin improved to 31.7 percent as against 30.46 percent during the same period. Analysts had expected it at 30.91 percent.
Average revenue per user (ARPU) increased marginally to Rs 193 from Rs 191 Q-o-Q, which was better-than-expectations of 185.
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