Bharti Airtel’s losses fell to Rs 763 crore in the second quarter of July-September of FY 2020-21, compared to a loss of Rs 23,045 crore in the same period last fiscal.
NSDL’s mistake saw heavy upheaval in Bharti Airtel’s stock today. NSDL withdrew it within 2 hours after putting the notice of Foreign Institutional Investment (FII) limit to 100%. This has led to Bharti Airtel’s stock slipping 8% from the upper levels. The stock market today had gained up to 9% in the stock market. The share price of the company reached Rs 470.25 on the BSE this morning. At the same time, Bharti Airtel was the top gainer on NIFTY. Bharti Airtel stock was trading up 4.65% at Rs 453.20 on the NSE at 11.20 am. At the same time, it was trading at Rs 453 on BSE, up 4.6%. But NSDL’s withdrawal of notice has led to a fall in its stock.
Earlier, telecom giant Bharti Airtel reported better second quarter results. Bharti Airtel’s losses fell to Rs 763 crore in the second quarter of July-September of FY 2020-21. The company had a loss of Rs 23,045 crore in the same period of the previous financial year. The BSE Sensex has fallen by 0.52% to 40,312.76 points. On Tuesday, Airtel shares closed at Rs 433, down 0.24 per cent on the BSE.
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30% fall in shares after decision on AGR
Let us tell you that since the decision on AGR on September 1, Bharti Airtel’s share prices have fallen by 30% so far. Earlier on March 19, the company’s shares reached their lowest level of Rs 394 per share on the BSE. But due to the lockdown, the work from home became the culture of the country and Airtel’s data consumption increased by 58% in the September quarter, reducing Airtel’s losses.
22% increase in Airtel’s income
The company had a loss of Rs 15,930 crore in the first quarter of FY 2020-21, which was reduced to Rs 763 crore in the quarter. At the same time, the company’s earnings improved in the second quarter. The company’s revenue grew 22 per cent to Rs 25,785 crore in the September quarter from Rs 21,131 crore in the same period last year. In the second quarter, the company reported a one-time loss of Rs 23,045 crore and Airtel’s consolidated Ebitda (Ebitda) stood at Rs 11,848 crore. Bharti Airtel Ebitda margin stood at 46 per cent in the second quarter. At the same time, other income of the company decreased from Rs 480.5 crore to Rs 148.9 crore in the second quarter on a quarter-on-quarter basis.
Earnings per user increased
Airtel’s average earnings per user (ARPU) in the second quarter stood at Rs 162, compared to Rs 128 a year ago. At the same time, it was Rs 157 in the first quarter of this year. In the second quarter ended on September 30, Airtel added 1.44 crore new 4G users, bringing the total number of 4G subscribers of the company to 15.27 crore. This number is 48% higher than last year. Follow
