Bharti Airtel gained 2.05% to Rs 380.80 at 9:25 IST on BSE after consolidated net profit rose 2.78% to Rs 1290.30 crore on 8.43% rise in total income to Rs 24983.10 crore in Q4 March 2016 over Q4 March 2015.
The result as per the International Financial Reporting Standards (IFRS) was announced after market hours yesterday, 27 April 2016.Meanwhile, the S&P BSE Sensex was up 24.72 points or 0.09% at 26,075.25.
On BSE, so far 1 lakh shares were traded in the counter as against average daily volume of 3.33 lakh shares in the past two weeks. The stock hit a high of Rs 384.90 and a low of Rs 378.20 so far during the day.
The large-cap company has an equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
Bharti Airtel's consolidated earnings before interest, tax, depreciation and amortization (EBITDA) margin increased to 36.8% in Q4 March 2016 compared with 35% in Q4 March 2015, driven by India's margin expansion of 1.5% in Q4 March 2016 over Q4 March 2015. Consolidated EBITDA rose 14.1% to Rs 9188 crore in Q4 March 2016 over Q4 March 2015. Stable currencies in most of the geographies resulted in lower forex and derivative losses of Rs 190 crore in Q4 March 2016 compared to Rs 1081 crore in Q4 March 2015. Bharti Airtel's bottom line during the quarter was impacted due to higher exceptional expenses. There were exceptional expenses of Rs 300 crore in Q4 March 2016, higher than exceptional expense of Rs 146.90 crore in Q4 March 2015. Exceptional items during Q4 March 2016 comprises of charge of Rs 10.70 crore pertaining to the divestment of telecom tower assets, charge of Rs 100.30 crore towards operating costs on network refarming and upgradation program. There was a charge of Rs 76.60 crore towards restructuring activities in a few countries and other regulatory costs. A charge of Rs 112.40 crore was incurred on account of termination of a long-term contract.
Bharti Airtel's board of directors approved the proposal to buyback the shares on a proportionate basis through a tender offer. The buy back shall be up to an aggregate amount not exceeding Rs 1434 crore at a price of Rs 400 per share translating into approximately 3.58 crore shares, representing 0.9% of the total paid up equity share capital of the company, subject to the regulatory and other approvals, if any.
The buyback price of Rs 400 per share was at a premium of 7.19% compared with closing price of Rs 373.15 yesterday, 27 April 2016.
Bharti Airtel is one of the leading global telecommunications service providers with operations in 20 countries across Asia and Africa.
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