Bharti Airtel rose 0.69% to Rs 293.30 at 9:25 IST on BSE after consolidated net profit fell 22.24% to Rs 1116.90 crore on 3.76% rise in total income to Rs 24103.40 crore in Q3 December 2015 over Q3 December 2014.
The results are as per International Financial Reporting Standards (IFRS). The result was announced after market hours yesterday, 28 January 2016.Meanwhile, the BSE Sensex was up 115.93 points, or 0.47%, to 24,585.50.
On BSE, so far 30,000 shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 296.95 so far during the day. The stock hit a low of Rs 289 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 452.45 on 21 July 2015. The stock had underperformed the market over the past one month till 28 January 2016, sliding 12.03% compared with 6.01% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.63% as against Sensex's 9.51% fall.
The large-cap company has an equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8.3% to Rs 8475 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin expanded to 35.2% in Q3 December 2015 from 33.7% in Q3 December 2014.
Meanwhile, Bharti Airtel and Axiata Group Berhad (Axiata) yesterday, 28 January 2016 signed a definitive agreement to merge their respective telecommunication subsidiaries in Bangladesh; namely, Airtel Bangladesh (Airtel) and Robi Axiata (Robi). The announcement was made after market hours yesterday, 28 January 2016. The agreement follows the 9 September 2015 announcement of both parties entering into an exclusive discussion to explore possibility of combining the business operations in Bangladesh.
Post-merger, the combined entity operating as Robi will serve approximately 4 crore customers. The joint strengths of Robi and Airtel will deliver the widest mobile network coverage across Bangladesh, strengthening its position in the mobile internet segment as well as consolidating its position as the second largest operator in the country, Bharti Airtel and Axiata said in a joint press release. The proposed transaction is subject to conditions precedent including receiving applicable approvals from relevant authorities and is expected to complete in the first half of 2016, the two companies said. Upon completion, Axiata will hold 68.3% controlling stake in the combined entity, while Bharti will hold 25%. The remaining 6.7% will be held by the existing shareholder, NTT DOCOMO of Japan, they added.
Bharti Airtel is one of the leading global telecommunications service providers with operations in 20 countries across Asia and Africa.
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