Bharti Airtel hits over 10-year high as Q2 operating profit beats estimates

The stock surged 7% to Rs 534 on the BSE, its highest level since October 18, 2007

Bharti Airtel hits an over 10-year high of Rs 534, up 7% on the BSE after the company reported a better-than-expected consolidated operating profit and margin for the quarter ending September 2017 (Q2FY18).

The stock was trading at its highest level since October 18, 2007. It is just 8% away from its all-time high of Rs 575 touched on October 10, 2007 in intra-day trade.

The company said it has reported consolidated Ebitda (earnings before interest, tax, depreciation and amortization) at Rs 8,004 crore declined 15.4% year-on-year (Y-o-Y) with EBITDA margin dropping by 1.6% to 36.8%, led by