Anand Rathi 's research report on Bharti Airtel
Bharti Airtel Ltd. reported consolidated revenues of Rs.237,227 million, up 15% year over year (y/y). The growth was driven by improved performance across segments including mobile services, Airtel business and tower infrastructure services. EBITDA improved 53.8% y/y to Rs.101,652 million while EBITDA margin came in at 42.9%, up from 32.1% in the previous year quarter. Including exceptional items, the company reported net loss of Rs. 52,370 million compared to profit of Rs.1,072 million in the previous year quarter.
Outlook
We have updated our estimates factoring in latest numbers and continue to remain positive on the stock with HOLD rating and target price of Rs.625 per share.
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