Bharti Airtel Doubles Dividend For FY24 To Rs 8 Per Share
Dividend amounting to Rs 4,602.5 crore will be paid to shareholders within 30 days from the date of the AGM.
Bharti Airtel Ltd. has announced a final dividend of Rs 8 per fully paid-up equity share of face value Rs 5 for fiscal 2024. The board's recommendation will be put to shareholders' vote at the ensuing annual general meeting, according to an exchange filing on Tuesday.
The dividend will be paid to shareholders within 30 days from the date of the AGM, and amounts to Rs 4,602.5 crore. The dividend is in proportion to the amount paid-up on each equity share of face value Rs 5 each.
The Sunil Bharti Mittal-owned company had paid Rs 4 per share as dividend in the financial year-ended March 2023, and Rs 3 in the previous year.
Bharti Airtel's fourth-quarter profit declined in fiscal 2024, missing analysts' estimates. The country's second largest telecom company's net profit fell 28% sequentially to Rs 2,068 crore in the quarter-ended March 2024, according to an exchange filing on Tuesday. That compares with a Bloomberg consensus estimate of Rs 3,274 crore.
Airtel Q4 FY24 Results Highlights (QoQ)
Revenue fell 0.8% to Rs 37,599 crore (Bloomberg estimate: Rs 38,607.3 crore).
Operating profit declined 2.3% to Rs 19,365 crore (Bloomberg estimate: Rs 20,480.4 crore).
Margin at 51.5% versus 52.28%.
Average revenue per user rose to Rs 209 versus Rs 208.
Shares of Bharti Airtel closed 0.09% lower at Rs 1,285.4 apiece, as compared with a 0.45% advance in the benchmark BSE Sensex on Tuesday. The results were announced after market close.
Correction: Copy updated with correct total dividend payout number.
Correction: Copy updated with correct profit decline percentage.
