Bharti Airtel shares were the top percentage gainer in benchmark indices Sensex and Nifty
Here are 10 things to know about Bharti Airtel:
The Bharti Airtel stock spiked as high as Rs 584.20 apiece on the BSE in the first half of the session compared to its previous close of Rs 538.15.
Bharti Airtel reported a net loss of Rs 5,237 crore for the fourth quarter of financial year 2019-20 due to one-time spectrum charges, as against a net profit of Rs 107.2 crore for the corresponding period a year ago.
The telecom company said it set aside Rs 5,642 crore for one-time spectrum charges in the quarter.
Bharti Airtel's ARPU or average revenue per user - a key gauge of a telecom company's profitability - increased to Rs 154 in the quarter ended March 31, as against Rs 123 in the year-ago period.
The company also said its mobile business in the country had turned EBIT- or earnings before interest and taxes-positive, and its revenue from mobile services in the country rose 21.8 per cent on a year-on-year basis.
For the entire financial year 2019-20, Bharti Airtel reported a net loss of Rs 32,183.2 crore, in contrast to a net profit of Rs 409.5 crore for the previous year.
The Bharti Airtel stock was the top percentage gainer in benchmark indices S&P BSE Sensex and NSE Nifty 50 in morning deals, and led an intraday surge of 8.65 per cent in the S&P BSE Telecom index - which tracks 13 stocks.
At 10:54 am, Bharti Airtel shares traded 9.05 per cent higher at Rs 586.85 on the BSE, outperforming the benchmark S&P BSE Sensex index which was up 2.16 per cent backed by broad-based gains.
Airtel said it added 1.25 crore 4G subscribers in the final quarter of financial year 2019-20.
Telecom companies in the country raised calling and data plan prices in the last few months after the Supreme Court upheld a demand by the telecoms department that wireless carriers pay Rs 92,000 crore ($12.11 billion) in overdue levies and interest.
