Shares of Bharti Airtel rose by 4 per cent following the company's announcement of a 54 per cent surge in consolidated net profit to Rs 2,442.2 crore during the December quarter.
The stock rose by 3.78 per cent to Rs 1,155.95 on the BSE and by 3.82 per cent to Rs 1,156.10 at the NSE.
In its regulatory filing, Bharti Airtel reported a consolidated net profit of Rs 2,442.2 crore for the December quarter, compared to Rs 1,588.2 crore in the corresponding period last year.
Despite the devaluation of African currencies, the company's consolidated revenue from operations in the third quarter of the fiscal year grew by 5.8 percent to Rs 37,899.5 crore from Rs 35,804.4 crore in the same period last year.
Gopal Vittal, Managing Director of Bharti Airtel, highlighted that the revenue from the India business continued to maintain its momentum, growing sequentially by 3 percent. However, the consolidated revenue was impacted by the devaluation of the Nigerian Naira and the Malawian Kwacha.
"Revenue from India business sustained its momentum and grew sequentially by 3 per cent, while consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha," Bharti Airtel Managing Director Gopal Vittal said in a statement.
(With PTI inputs)
READ MORE: HDFC Bank gets RBI approval to buy up to 9.50 per cent stake in IndusInd Bank
READ MORE: UPI will continue to operate as normal, working with other banks for continuity of service: Paytm
Latest Business News
