Bharti Airtel stock down over 4 pc after Q1 results

Bharti Airtel scrip today plunged over 4 per cent as the company's net profit declined 37 per cent for the quarter ended June 30, 2012 - the tenth straight quarterly fall.

Following the disappointing set of numbers, shares of the company fell 4.4 per cent to Rs 280.85 on the BSE.

At the NSE, the scrip lost 4.49 per cent to Rs 280.60. The stock was the worst performer among the BSE 30 blue-chip Sensex scrips during the early trade.

Bharti Airtel's net profit fell for the tenth quarter in a row, declining 37 per cent to Rs 762.2 crore for the quarter ended June.

It had posted a net profit of Rs 1,215.2 crore in the same period last fiscal, Bharti Airtel said in a statement.

The total revenues were, however, up by 14 per cent to Rs 19,350 crore in the quarter against Rs 16,975 crore in Q1 FY'12, marked by growth of 31.5 per cent in Africa and 44.2 per cent increase in mobile data revenues from India.

In the broader market, the Sensex was trading 42.94 points up at 17,644.72 at 1055 hrs.

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