Bharti Airtel rebounds 7% from intra-day low

The stock moved higher to Rs 361, bouncing back 7% from early morning low of Rs 337 on BSE.

Bharti Airtel  moved higher to Rs 361, bouncing back 7% from intra-day low on BSE, on the back of heavy volumes.

The stock dipped 2.6% to Rs 337 in early morning trade after the telecom major reported a 72% fall in net profits at Rs 373 crore for the fourth quarter ended March 31, a second consecutive quarterly decline. The company had earned net profits of Rs 1,319 crore in the corresponding quarter of 2015-16.

The mobile operator’s consolidated revenues were down 8.8% year-on-year during the January-March period at Rs 21,935 crore.

“Bharti’s Q4 consolidated earnings before