Bharti Airtel shares plunged as much as 3 per cent after the telecom major reported 22.25 per cent fall in its consolidated net profit figures to Rs 1,116.90 crore for the quarter ended December 2015. The company posted net profit of Rs 1,436.50 crore in the corresponding quarter a year ago.
At 2.58 pm, shares of Bharti Airtel were trading 1.48 per cent down at Rs 287. The scrip opened at Rs 290.15 and had touched a high and low of Rs 296.95 and Rs 282.30, respectively, in trade so far. Later, the scrip settled 0.55 per cent down at Rs 289.70.
According to Bharti Airtel, its bottomline was hit by exceptional items that include a charge of Rs 115.2 crore towards operating costs on network refarming and upgradation programme, Rs 231.3 crore on restructuring activities in some countries and interest costs, among others.
Revenue of the company jumped 3.66 per cent year-on-year to Rs 24065.90 crore during October-December 2015 period.
(With agency inputs)