Bharti Airtel stock gave up initial gains on profit-booking, falling around 2 per cent in line with a sluggish broader market, even as the company reported 10.1 per cent jump in consolidated net profit for the quarter ended September 30.
The share price of Bharti Airtel closed 1.91 per cent down at Rs 351.90. Sensex closed 0.40 per cent down at 27,362.
The company has reported 10.09 per cent rise in its consolidated net profit at Rs 1,522.70 crore for the quarter ended September 30, 2015 as compared to Rs 1,383.20 crore for the same quarter in the previous year.
Total income (consolidated) of the company has increased by 4.33 per cent at Rs 23,851.90 crore for quarter under review as compared to Rs 22,861.70 crore for the quarter ended September 30, 2014.
Analysts on average expected the company to post a net profit of Rs 1,150 crore, according to Thomson Reuters data.
On a standalone basis, the company reported 54.96 per cent fall in its net profit at Rs 2,223.70 crore for the quarter ended September 30, 2015 as compared to Rs 4,937.30 crore for the same quarter in the previous year. The company’s total income decreased by 4.91 per cent to Rs 15,911.90 crore for the quarter under review from Rs 16,733.60 crore for the corresponding quarter of the previous year.
The net debt of the company at the end of September 30 stood at Rs 70,777 crore.
(With inputs from PTI)