Bharti Airtel turns negative; one-off boosts profits

Wed Nov 7, 2012 2:59pm IST

An employee sits at a Bharti Airtel public phone booth installed at the airport in New Delhi October 23, 2012. REUTERS/Vivek Prakash

An employee sits at a Bharti Airtel public phone booth installed at the airport in New Delhi October 23, 2012.

Credit: Reuters/Vivek Prakash

Related Topics

Stocks

   

Reuters Market Eye - Bharti Airtel(BRTI.NS) falls 1.3 percent, erasing initial rise of as much as 2.6 percent, as investors factor in a one-off gain related to a telecom tribunal's judgment boosting revenue and profit.

Bharti's consolidated net profit falls 30 percent from a year earlier to 7.21 billion rupees for the three months to September, despite a one-off gain of 2.39 billion rupees from an outstanding dispute over inter-connect charges. IDFC, in a note to clients, says Bharti's earnings are in line with its estimates helped by healthy data pickup despite a soft voice business, and a 3 percent revenue growth in Africa business.

"Our hypothesis of Bharti being better placed due (to) scale benefits in India and upside from Africa market remains intact," says IDFC, which kept its 'outperformer' call on the stock. Nomura, however, maintains its 'reduce' rating on the stock and doubts the results will boost market confidence in Bharti's earnings outlook.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Obama's India Visit

Reuters Showcase

RK Laxman Dead

RK Laxman Dead

'Common Man' cartoonist RK Laxman dead at 93  Full Article 

Nuclear Group

Nuclear Group

China urges India to take steps to satisfy standards of NSG  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Facebook Outage

Facebook Outage

Hacker group claims it is behind outages at Facebook, other sites  Full Article 

U.S. Blizzard

U.S. Blizzard

`Life-threatening' blizzard shuts down much of U.S. Northeast  Full Article 

Australian Open

Australian Open

Berdych ends Nadal tyranny on day of shocks  Full Article 

Fashionable Modi

Fashionable Modi

When Modi met Obama, his name was all over - his suit  Full Article 

Photo

Auschwitz Anniversary

Last survivors recall Auschwitz, ask if lessons learned  Full Article | Related Story 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage