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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Fuelling Change

REUTERS SHOWCASE

NSEL Fraud

NSEL Fraud

Govt orders Financial Tech to absorb NSEL, liabilities  Full Article 

Quarterly Result

Quarterly Result

HDFC Bank net profit up 20 percent, lags estimates.  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

China Economy

China Economy

China's growth slowest since global crisis, annual target at risk  Full Article 

Coal Reforms

Coal Reforms

Factbox - India pushes ahead with coal reforms  Full Article 

Apple Result

Apple Result

Apple's iPhone sales beat Street but iPad volumes slide  Full Article 

Airport Accident

Airport Accident

Total CEO de Margerie killed in Moscow business jet accident  Full Article 

Nadella's Paycheck

Nadella's Paycheck

New Microsoft CEO Nadella's pay tops $80 mln with big stock awards.  Full Article 

Reuters India Mobile

Reuters India Mobile

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