Bharti Airtel shares jump 8.7 pc despite Q4 loss of Rs 5,237 crore
May 19, 2020
New Delhi [India], May 19 : The shares of telecom major Bharti Airtel jumped by 8.75 per cent during early hours on Tuesday despite the company reported a net loss of Rs 5,237 crore in the January to March quarter.
It had reported a net loss of Rs 1,035 crore in Q3 FY20 but a profit of Rs 107 crore in Q4 FY19.
The company said it took a hit from an exceptional item of Rs 7,004 crore in the quarter ended March, which comprised mainly of a charge on account of reassessment of regulatory cost based on a recent judgment on one-time spectrum charge (OTSC)-related matter.
However, the company's revenue rose by 15 per cent to Rs 23,723 crore in Q4 FY20 as compared to Rs 20,602 crore in Q4 FY19.
Significantly, Bharti Airtel's average revenue per user (APRU) moved up to Rs 154 during the quarter as against Rs 123 in the year-ago period and Rs 135 in the previous quarter.
The company has seen an increase in data traffic during COVID-19 pandemic and subsequent lockdown since late March.
At 11:30 am, Bharti Airtel was trading 8.75 per cent higher on the National Stock Exchange (NSE) at Rs 585.15 per share.
