Telecom service provider
Bharti Airtel was trading at Rs430.65 per piece down 1% on Sensex at around 12.43 pm. The company's stock has plunged by over 1% with an intraday low of Rs429 per piece on Sensex. The Sunil Mittal-backed company is set to present its financial performance for the quarter ended September 2020 (Q2FY21) later today.
In the upcoming quarter, key things to watch out are adjusted gross revenue (AGR) impact, ARPU performance, management commentary, data usage and non-wireless business among others.
The company's Africa operations presented its financial performance last week, where the Africa biz recorded a net profit of $88M down 8.8% yoy. While revenue increased by 19.65 yoy in constant currency to $965M.
In the June 2020 (Q1FY21) quarter, Airtel's consolidated net loss widened to Rs15,933.1cr compared to a loss of Rs2,866cr in the corresponding period of the previous year and loss of Rs5,237cr of the preceding quarter. Consolidated revenue during the period was at Rs23,938.7cr increasing by 15.4% compared to Rs20,737.9cr a year ago same period.
As of June 2020, the company had 420M customers, an increase of 4% as compared to 404 Mn in the corresponding quarter last year.