Share of Bharti Airtel hit a fresh all-time high of Rs 623 in today's early session after the company recorded highest ever consolidated quarterly revenues from India business in December quarter, on the back of strong customer addition.
The telecom major on Wednesday reported a consolidated net profit of Rs 853.6 crore in the October-December quarter of the ongoing financial year as against a net loss of Rs 1,035.3 crore in the year-ago period. The company had posted a net loss of Rs 763.2 crore in the preceding July-September quarter.
Following the news, Airtel stock touched an intraday high of Rs 623, rising 2.33% on BSE. The stock later fell after 3 days of consecutive gain on profit-booking and touched an intraday low of Rs 595.95, down 2.11% on BSE.
Its mobile ARPU (average revenue per user) rose to Rs 166 in October-December from Rs 135 in the year-ago quarter as it focused on acquiring quality customers as well as secular upgrading of customers to data, Airtel said.
Bharti Airtel share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Bharti Airtel share has risen 16% in one year. The telecom company has gained 5% in the last one week, 16% in one month and 18% since the beginning of the year.
Market capitalisation of the firm rose to Rs 3,27,442.55 crore.
Airtel posted a 24% YoY increase in consolidated revenues to Rs 26,518 crore for the quarter ended on 31 December. The revenue of India mobile business rose 32.4% YoY to Rs 14,778.8 crore, while Airtel Business revenue jumped 9.2% to Rs 3,621.5 crore.
Keshav Lahoti-Associate Equity Analyst, Angel Broking said," Overall, numbers were above street expectation in all the fronts. We are bullish on Bharti Airtel as the company's ARPU is increasing and for the last few months, it is adding the highest number of subscribers in the industry. In the upcoming years, Company will gain market share. We expect re-rating in the multiples for the Company and expect the stock to make fresh highs. "