Bharti Airtel's scrip fell by over 1% today after the telecom major reported 29.7% dip in net profit, down for the 11th quarter in a row, for the July-September period of the current fiscal.
Following the results, the company stock opened weak and further lost 1.31% to Rs 269.90 on the BSE.
At NSE, the scrip was down 1.53% to Rs 269.55.
"Bharti shares fell as results of the telecom major were below-street expectations," CNI Research CMD Kishor Ostwal said.
Bharti's net profit fell by 29.7% to Rs 721.2 crore during the July-September quarter this fiscal.
It had posted net profit of Rs 1,027 crore in the same period last fiscal, Bharti Airtel said in a BSE filing.
The fall in the stock was in sharp contrast with an overall strong equity market where the BSE 30-stock index, Sensex, was trading at 18,922.87, up 105.49 points at 1046 hrs.
