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Bharti Airtel share falls over 2% post Q4 earnings

Share of  Bharti Airtel touched an intraday low of Rs 537.1, losing 2.27% on BSE. The stock has lost 6.15% in the last 5 days

Airtel share trades higher than 50 day and 200 day moving averages but lower than 5 day, 20 day and 100 day moving averages. Airtel share trades higher than 50 day and 200 day moving averages but lower than 5 day, 20 day and 100 day moving averages.

Bharti Airtel share fell over 2% today after the telco reported a consolidated net profit of Rs 759 crore for the fourth quarter ended March 31, 2021. The firm has reported a loss of Rs 5,237 crore in the same period a year ago.

Share of Bharti Airtel touched an intraday low of Rs 537.1, losing 2.27% on BSE. The stock has lost 6.15% in the last 5 days.  Airtel share trades higher than 50 day and 200 day moving averages but lower than 5 day, 20 day and 100 day moving averages. The large cap share has lost 0.22% in one year but risen 5.43% since the beginning of this year.

Market cap of the firm fell to Rs 2.94 lakh crore on BSE.

The telco logged an annual turnover of more than Rs 1 lakh crore (1,00,616 crore) for the first time  ever in the financial year 2020-21. The company had recorded annual revenue of Rs 84,676 crore in 2019-20.

Bharti Airtel's consolidated revenue increased by 11.9 per cent to Rs 25,747 crore in Q4 compared to Rs 23,019 crore in the corresponding quarter of 2019-20. Bharti Airtel's India revenue rose 10 per cent in Q4  to Rs 18,337.8 crore from Rs 16,734.3 crore a year ago. Mobile services business of Bharti Airtel rose 9 per cent to Rs 14,079.7 crore during the period under review.

"Our services are the digital oxygen that the country needs in this challenging time as we experience a vicious second wave of Covid-19. I am grateful to our people who are doing all they can to strengthen our network experience and serve our customers braving massive odds. It is this relentless focus on customer obsession that has allowed us to deliver another consistent quarter in terms of performance," said Bharti Airtel MD and CEO for India and South Asia Gopal Vittal. He said that the enterprise segment delivered double digit growth during the quarter.

For the fiscal ended March 31, 2021, Airtel narrowed its loss to Rs 15,084 crore from Rs 32,183 crore had recorded at the end of 2019-20.

Bharti Airtel's global customer base stood at around 47 crore at the end of Q4. The company registered a 13.1 per cent growth in India customer base to over 35 crore in the reported quarter from 30.9 crore it had a year ago