MARKET EYE-Bharti Airtel turns negative; one-off boosts profits

Wed Nov 7, 2012 2:32pm IST

Related Topics

Stocks

   

* Bharti Airtel 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 ($132.5 million) 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. (manoj.dharra@thomsonreuters.com/abhishek.vishnoi@thomsonreuter .com)

FILED UNDER:

Religion and Politics

REUTERS SHOWCASE

Fund Raising

Fund Raising

Flipkart raises $700 million in fresh funding.   Full Article 

Reforms Push

Reforms Push

Modi may order insurance, coal reforms if vote delayed - officials.  Full Article 

Reuters Exclusive

Reuters Exclusive

India looks to sway Americans with nuclear power insurance plan  Full Article 

To Boost Growth

To Boost Growth

Crank up public spending to revive growth - chief economic adviser.   Full Article 

Bold Steps

Bold Steps

SpiceJet rescue plan marks bold bet on Indian aviation recovery.   Full Article 

New Airline

New Airline

Tata, Singapore Air venture Vistara to take off on Jan 9.  Full Article 

Online Sales

Online Sales

Knock knock. Who's there? Amazon's best-selling holiday author.  Full Article 

Hacking Attack

Hacking Attack

N.Korea says did not hack Sony, wants joint probe with U.S.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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