Bharti Airtel gives up early gains; down 2 per cent post Q2 results

Mumbai: Bharti Airtel stock gave up initial gains on profit-booking, falling 2 per cent in line with a sluggish broader market, even as the company reported 10.1 per cent jump in consolidated net profit for the quarter ended September 30.

The stock had opened the day with a gain of 1.74 per cent was trading 1.95 per cent down at Rs 351.75 in the afternoon on the BSE. On the NSE, shares of the country's top telecom operator were down 2 per cent at Rs 351.60 after the initial spike.

Bharti Airtel on Monday reported 10.1 per cent jump in consolidated net profit to Rs 1,523 crore for the second quarter ended September 30, 2015-16 on growth in data traffic.

The company had reported a net profit of Rs 1,383 crore for the corresponding quarter of the last financial year. Net profit was down from Rs 1,554.3 crore in the previous, April-June quarter of the current fiscal.

Total revenue of the company rose 4.3 per cent to Rs 23,836 crore for the reported period compared with Rs 22,845 crore last year.

Consolidated mobile data revenues grew 49.8 per cent to Rs 3,806 crore, boosted by data traffic growth of 76.3 percent. In the broader market the BSE index, Sensex, was down 26.71 points at Rs 27,444.10.