Bharti Telecom acquires 1.20% stake in Bharti Airtel

Bharti Airtel reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter against Rs 1,341 crore a year ago

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Bharti Telecom, the largest promoter of Bharti Airtel, on Wednesday acquired about 1.20% stake in Bharti Airtel. Bharti Telecom’s stake in Bharti Airtel now stands at 40.33% after this deal.

The company said in a regulatory filing, "In furtherance to our announcements dt. August 25, 2022 and December 01, 2023 titled "Acquisition of further stake in Bharti Airtel Limited, we wish to intimate that Bharti Telecom Limited ('BTL or the 'Company') has acquired -1.20% shares of Bharti Airtel Limited from Indian Continent Investment Limited ('ICIL') by way of an off-market transaction. "

The shares of Bharti Airtel ended 1.26 per cent higher at Rs 1,598.75 per share on Wednesday.

Earlier in 2023,  Bharti Airtel promoter firm Bharti Telecom bought an additional 1.35 percent stake in the country’s second-largest telecom services provider for Rs 8,301 crore through an open market transaction.

Also, Bharti Airtel reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter against Rs 1,341 crore a year ago.

India's second-largest telecom company clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.