Bharti Airtel reported a 13 percent y-o-y growth in consolidated revenue from Rs 25,060 crore in the previous year to Rs 28,326 crore for the reported quarter.
Bharti Airtel share price rose nearly 3 percent in the early trade on November 3 a day after the company had reported its September quarter results.
Telecom services provider Bharti Airtel, on November 2, reported a strong growth in profit after tax (PAT) which came in at Rs 1,134 crore as compared to a loss of Rs 763 crore in the corresponding quarter last year.
On a quarterly basis, PAT has jumped 300 percent from Rs 284 crore reported in the previous quarter.
The company reported a 13 percent y-o-y growth in consolidated revenue from Rs 25,060 crore in the previous year to Rs 28,326 crore for the reported quarter.
Sequentially, the revenues have improved by 5 percent from Rs 26,854 in the preceding quarter.
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Here is what brokerages have to say about the stock and the company post September quarter earnings:
Jefferies
Research house maintained a buy call on the stock with a target at Rs 860 as revenue/EBITDA was in-line while profit beat the estimates.
The mobile ARPU missed estimate, however lower than expected churn offset this.
The subscriber mix has improved further, a reflection of its network investments, while homes & enterprise segments also surprised positively.
CLSA
Research firm has maintained a buy call with a target at Rs 860 per share.
The Q2 consolidated revenue & EBITDA rose QoQ/YoY, and was ahead of estimates.
CLSA forecast a 15% consolidated EBITDA CAGR by FY24.
At 09:17 hrs Bharti Airtel was quoting at Rs 726.70, up Rs 13.80, or 1.94 percent on the BSE.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Bharti Airtel share price rises nearly 3% post Q2 earnings; brokerages keep 'buy' - Moneycontrol.com
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