Bharti Airtel stock today fell by over 2.5 percent after the telecom company’s March quarter net profit failed to enthuse investors. Bharti Airtel’s stock lost 2.51 percent to Rs 390.70 on the BSE. Also Read - Airtel Rs 79 plan vs JioPhone Rs 75 prepaid plan compared: Which offers better value?
On the NSE, shares of the country’s largest telecom company fell by 2.43 percent to Rs 391. Analysts said weakness in the broader market and profit- booking also led to selling in the stock. The BSE 30-share key index Sensex was trading at 27,288.73, down 107.65 points in the afternoon. Bharti Airtel yesterday reported a 30.5 percent jump in net profit at Rs 1,255 crore for the January-March quarter of last fiscal, buoyed by a robust customer growth and rise in mobile data revenue. Also Read - Airtel Rs 79 vs Vodafone-Idea (Vi) Rs 79 prepaid plans compared: Data, calls, and other benefits
Some marketmen said investors however were expecting stronger results. The Sunil Bharti Mittal-led company had reported a net profit of Rs 962 crore for the corresponding period last year. Total revenue of the firm rose 3.6 percent to Rs 23,016 crore for the reported quarter as compared with Rs 22,219 crore in the year-ago period, Airtel had said in a statement. On yearly basis, the net profit soared 86.9 percent to Rs 5,183 crore for FY 2014-15 as compared with Rs 2,773 crore in the previous fiscal. Total revenue for the entire 2014-15 fiscal rose 7.3 percent to Rs 92,039 crore as against Rs 85,746 crore in the preceding financial year. Also Read - Airtel introduces new Rs 79 prepaid plan in place of Rs 49 pack: Here are the benefits
Net debt of the company stood at Rs 66,841.7 crore at the end of March 2015.