Bharti Airtel shares surge almost 10% after its Q4 results for FY20
Bharti Airtel shares surge: It is one of the largest telecom networks in India located in Delhi. Airtel provides services like GSM, 3G, 4G LTE, 4G+ mobile services, and voice services. However, it is also known as Airtel, while the company operates almost 18 countries across the world.
Meanwhile, on Tuesday, May 19, the telecom major Bharti Airtel reported its Q4 results for the Financial Year 2020. The company’s consolidated loss to Rs 5,237 crores Year-on-Year in the quarter ended in March. The company also posted its standalone profit of Rs 107.2 crores in the same quarter last year. However, the company took a hit due to the exceptional item of Rs 7,004 crores in the quarter.
Besides, the average revenue of the company per user reported at Rs 154 crores ended in March. While the company’s average revenue of Rs 123 crores in the same quarter last year. The company also posted its consolidated revenue increased by 15.1% YoY to Rs 23,723 crores.
On the other side, the company increased its customers by almost 423 million at the end of March. While the company also reported the total number of customers at 404 million in the same quarter last year. The company total minutes of usage during this quarter stood at 902 billion as against 796 billion in the same quarter last year.
However, the Mobile traffic of the company increased by 74.3% to 6,688 billion as against 3,836 billion in the same quarter last fiscal year. On the other side, the company board members decided and approved is an interim dividend of Rs 2 per share.
Whereas, the companies EBITDA increased by 51.7% to Rs 10,326 crores in this quarter. While the EBITDA margin increased by 43.5% as against 10.5%. The company also posted its revenue from India stood at Rs 17,438 crores with a 14.4% increase Year-on-Year (YoY).
“Even in this difficult time, it is our investments in network technologies coupled with our culture of customer obsession that has allowed us to keep the nation connected and serve our customers,” said Gopal Vittal, Managing Director, and Chief Executive Officer, India & South Asia.
On Tuesday, May 19, the shares of Bharti Airtel Ltd reported a bullish trend in the stock market. The company gained 51.65 points with a 9.60% increase and reached 589.90 INR. While in BSE, the company gained 51.45 points with a 9.61% increase and reached 589.85 INR.
Stock Market on May 19:
The early trade of both Sensex and Nifty reported a bullish trend in the stock market on Tuesday after bearish reports in the last three sessions. The Sensex is trading above 30,500 levels, and Nifty is trading above 8,900 levels in the stock market. The Sensex gained 542.74 points with a 1.81% increase and reached a 30,573.46 level. While Nifty gained 163.00 points with a 1.85% increase and reached 8,986.25 level.
On the other side, the number of coronavirus cases in India reached 1,01,139 as of Tuesday, May 19, and deaths reached 3,163.
In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Tuesday. It gained 56.53 points with a 0.54% increase and reached a 10,432.70 level. The S&P BSE Midcap index gained 153.63 points with a 1.39% increase and reached an 11,207.37 level. While Nifty Bank gained 321.65 points with a 1.76% increase and reached 17,882.15 level.
Top Gainers on May 19: Bharti Airtel, ONGC, UltraTech Cement, JSW Steel, and Adani Ports are the top gainers in today’s stock market
Top Losers on May 19: UPL, Vedanta, HUL, Britannia, and Cipla are the top losers in today’s stock market.