Led by lower costs, especially, network operating expenses, selling & marketing as well as other expenses, Bharti Airtel’s operating profit was up 41 per cent at Rs 8,928 crore in Q2FY20, which was better than the Bloomberg consensus estimate of Rs 8,388 crore. Consolidated operating profit margins, too, saw a jump from 31.5 per cent in the year-ago quarter to 42.3 per cent in Q2 even though it posted a pre-tax loss of Rs 31,334 crore due to a provision of Rs 28,450 crore for outstanding payments to the central government on account of the Supreme Court judgment on adjusted gross revenues (AGR).
reported a massive pre-tax loss of Rs 36,959 crore for the July-September quarter, against a loss of Rs 4,974 crore in the year-ago quarter while the loss in the June quarter was Rs 4,874 crore.
Around 9:36 am, Vodafone Idea was up 19.02 per cent at Rs 5.32 on the BSE. A total of 21.8 crore shares of Vodafone had changed hands on the NSE and BSE combined. The stock has gained 106 per cent from its lifetime low of Rs 2.61, touched in the intra-day trade on Friday, November 15, on BSE.
Around the same time, Bharti Airtel
was up 5.3 per cent at Rs 430.80. Over 1.4 crore Bharti Airtel
shares had changed hands on the NSE and BSE. In comparison, the benchmark S&P BSE Sensex was trading 0.18 per cent higher at 40,355.