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Last Updated : May 19, 2020 10:22 AM IST | Source: Moneycontrol.com

Bharti Airtel share price hits record high despite net loss widens in Q4; CLSA maintains buy

The company posted exceptional items totalling Rs 7,004 crore during the quarter ended on March 31, 2020.

 
 
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Bharti Airtel share price surged over 10 percent and hit record high of Rs 591.95 on May 19 despite the company having reported a net loss of Rs 5,237 crore for the quarter ended in March 2020.

It posted a consolidated loss of Rs 1,035.3 crore in the December quarter and a profit of Rs 107.2 crore in the March quarter in 2019.

The consolidated revenue for the quarter stood at Rs 23,723 crore, against Rs 21,947.1 crore in December quarter and Rs 20,602.2 crore in March 2019.

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The company posted exceptional items totalling Rs 7,004 crore during the quarter ended on March 31, 2020.

bharti

CLSA | Rating: Buy | Target: Rs 670 per share

The consolidated EBITDA rose 10 percent QoQ. The Indian mobile revenue growth was led by a 14 percent QoQ jump in ARPU

The growth of company’s data subscribers is encouraging too, while its gearing is comfortable at 2.9x of EBITDA, it added.

Credit Suisse | Rating: Outperform | Target: Rs 600

The company has reported strong Q4FY20. Company’s revenue and EBITDA was up 8 percent & 10 percent respectively led by India mobile business.

The ARPU grew 14 percent QoQ, which was 5 percent above the expectations, said Credit Suisse.

At 09:58 hrs Bharti Airtel was quoting at Rs 589.35, up Rs 51.20, or 9.51 percent on the BSE.

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First Published on May 19, 2020 09:29 am
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