Telecom giant Bharti Airtel on Wednesday said its CEO (International) and Joint Managing Director Manoj Kohli sold 40,000 equity shares of the company in open market transactions, aggregating over Rs 1.45 crore.
Kohli sold 40,000 equity shares, in two tranches of 20,000 each on May 10 and May 11, Bharti Airtel informed the Bombay Stock Exchange in a regulatory disclosure.
Prior to these transactions, Manoj Kohli owned over 3.40 lakh equity shares of the telecom firm, it said. His personal holding has now reduced to over 3 lakh equity shares.
The top official sold the equity shares through HSBC Securities and Capital Markets (India) Private Ltd.
Manoj Kohli had joined Bharti Airtel in 2002 and has steadily risen to take charge of its crucial operations.
Last week, the company had posted lower-than-expected consolidated net income of Rs 1,400.7 crore for the quarter ended March 31, down 31.48 per cent vis-a-vis the same period last year on account of higher cash outflow for its African operations.
The company had registered a net profit of Rs 2,044.4 crore in the January-March quarter of the previous financial year.
Shares of the company closed at Rs 366.35, marginally up from the previous close on BSE.