Bharti Airtel slips nearly 3 pc on poor Q1 numbers

In early trade, the scrip had surged 3.4 per cent to touch a four-week high of Rs 335.60. But, soon after the announcement of the results, the shares dipped 2.72 per cent to Rs 315.45 a piece on BSE.

In a similar fashion, the scrip lost 2.98 per cent to Rs 315.80 on the National Stock Exchange.

"The stock has just reacted to the weak numbers. However, the market was expecting even weaker results from the company due to considerable pressure on its earnings on account of additional 3G costs," CNI Research CMD Kishore P Ostwal said.

Meanwhile, the 30-share benchmark Sensex was trading flat at 18,210.10 at 1018 hrs..
The stock was among the volume toppers with about 84.32 lakh shares traded on the bourses in the morning trade.

The telecom service provider registered a 32 per cent decline in its consolidated net profit at Rs 1,682 crore in its April-June quarter.

However, the total income of Bharti Airtel rose by 17.4 per cent to Rs 12,231 crore in the first quarter from Rs 10,414 crore in the June quarter last fiscal.

Meanwhile, the company also announced the acquisition of Seychelles' leading telecom operator Telecom Seychelles Ltd for Rs 288 crore.

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