Bharti Airtel gains on adding 15.17 lakh subscribers in July
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Bharti Airtel is engaged in the business of providing telecommunications services.
Bharti Airtel shares were trading marginally higher in the morning session on September 28 after Telecom Regulatory Authority of India’s monthly subscription data for July published showed a net addition of 15.17 lakh subscribers to the telecom’s services.
The expansion comes after TRAI report for June observed a net addition of 14.1 lakh subscribers. After the July update, the company’s market share stands at 32.74 percent in the wireless subscribers segment.
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In the June quarter, the company reported a 14.12 percent year-on-year (YoY) increase in revenue from operations at Rs 37,440 crore. Net profit dropped 38.43 percent YoY to Rs 1,520 crore. The operating profit margins expanded by 200 basis points on a yearly basis to 52 percent.
One basis point is one-hundredth of a percentage point.
Bharti Airtel is a telecommunication services provider offering mobile voice and data services, broadband and digital TV services, and enterprise solutions for businesses.
At 10.30 am, the stock was trading at Rs 535.50 on the National Stock Exchange, up Rs 3.50, or 0.66 percent.
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