Bharti Airtel Q3 Results Update
Reported net profit of Rs 854 cr; revenue grows 6%
Highlights
*Reported a consolidated net profit of Rs 853.6 crore as against a consolidated net loss of Rs 763.2 crore in the previous quarter.
*Consolidated revenues in the quarter grew 6 percent quarter-on-quarter to Rs 26,517.8 crore.
Bharti Airtel was expected to report a consolidated net profit of Rs 222 crore and consolidated revenues of Rs 26,387 crore.
*The company’s consolidated operating profit for the quarter stood at Rs 12,178 crore, while its consolidated operating margin came in at 45.9 percent.
*The company’s average revenue per user in the quarter came in at Rs 166, which was higher than analysts’ estimates, as compared to Rs 162 in the previous quarter.
Impact on Bharti Airtel
Positive
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Technical View on Bharti Airtel
Immediate support 545, Every low is buying opportunity for the target of 650-680
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