Bharti Airtel rose 4.07% to Rs 359.55 at 10:10 IST on BSE after consolidated net profit fell 69.22% to Rs 470.60 crore on 12.12% decline in net sales to Rs 21934.60 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 9 May 2017.Meanwhile, the S&P BSE Sensex was up 261.33 points, or 0.87% to 30,194.58.
On the BSE, 3.63 lakh shares were traded in the counter so far, compared with average daily volumes of 5.98 lakh shares in the past one quarter. The stock had hit a high of Rs 360.70 and a low of Rs 336.95 so far during the day. The stock hit a 52-week high of Rs 400.65 on 23 February 2017. The stock hit a 52-week low of Rs 283.95 on 9 November 2016.
The stock was unchanged over the past one month till 9 May 2017, underperforming the Sensex's 1.21% rise. The scrip had, however, outperformed the market in past one quarter, falling 2.07% as against Sensex's 5.81% rise.
The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.
Bharti Airtel's consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) fell 13% to Rs 7993 crore in Q4 March 2017 over Q4 March 2016.
On a consolidated basis, Bharti Airtel's net profit fell 38.47% to Rs 4241.40 crore on 1.10% decline in net sales to Rs 95,468.30 crore in the year ended March 2017 over the year ended March 2016. Consolidated EBITDA rose 4.3% to Rs 35621 crore in the year ended March 2017 over the year ended March 2016.
In a statement, Gopal Vittal, MD and CEO, India & South Asia, said that the sustained predatory pricing by the new operator has led to a decline in revenue growth for the second quarter in a row. The telecom industry as a whole also witnessed a revenue decline for the first time ever on a full year basis. The deteriorating health of the industry was compounded by the tsunami of incoming voice traffic from the new operator as a result of which significant investments had to be made just to carry the incoming traffic on the company's network. The net result of this was a revenue decline of 7.1% in Q4 even as EBITDA margins eroded by 2.9%. The financial year ended March 2017 (FY2017) saw a muted top line growth of 3.6% vs the double digit growth witnessed in preceding years, he added.
In a statement, Raghunath Mandava, MD and CEO, Africa, said that Airtel Africa underlying revenues grew by 4.4% in constant currency terms during the financial year ended March 2017 with net revenues up a healthy 5.0% as we shed unprofitable lines. Revenue market shares in the company's key geographies continued to accelerate. The company's efforts to deliver a profitable business model for Africa has resulted in EBITDA growth of 36% with margin expanding by +500 basis points on an underlying basis in FY2017. For the first time ever, African operation has delivered positive PBT in the financial year (constant currency). Data consumption and revenues have grown by 95.5% and 23.5% respectively in FY2017.
Bharti Airtel is a leading global telecommunications company with operations in 17 countries across Asia and Africa.
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