Bharti Airtel shares pared losses after dropping nearly 4 per cent post third quarter earnings announcement on Friday. The stock traded 1 per cent lower at Rs 335.85 as of 12.05 p.m. on the Bombay Stock Exchange.
Bharti Airtel said consolidated net profit fell to Rs 284 crore in the fiscal third quarter that ended December 31, from Rs 1,011 crore a year earlier. (Read full story)
Global investment bank Goldman Sachs said operational results were largely in line. Tax rate was higher due to higher proportion of taxable income from Africa. Potential tariff hikes will drive stock price, Goldman added.
Domestic brokerage IDFC said Bharti reported largely in-line revenues. EBITDA was below expectations lead by weaker margins at African business, but Bharti will benefit from reduced competitive intensity. Net profits came below expectations primarily because of higher forex loss, IDFC added.
Motilal Oswal said consolidated EBITDA was broadly-in line. Net profit was dragged by Rs 250 crore forex loss and on high tax rate.
Kotak, however, said that Bharti's Q3 results were disappointing, citing continue weakness in business performance.
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