Airtel Shares Jump Back In Green After Strong Q4 Numbers

Bharti Airtel’s share price was back in the green on Wednesday after the company’s earnings for the March quarter beat street estimates.

What Happened: The telecom giant’s revenue went up 14.3% year-over-year to ₹36,009 crore. The company’s India revenue for the quarter stood at ₹25,250 crore, up 12.2% from the year-ago period. Total subscribers stood at 518 million across 16 countries. The subscriber count in India stood at 375 million users.

EBITDA for the review quarter stood at ₹18,807 crore up 17.6% from ₹15,998 crore it reported in the corresponding quarter last year. EBITDA margin was at 52.2%. Net profit for the March quarter came in at ₹3,006 crore, up 50% against the ₹2,007 crore profit booked in the same quarter last year.

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The company’s Board has recommended a final dividend of ₹4 per fully paid-up equity share and ₹1 per partly paid-up equity share.

The company’s strong numbers impressed most analysts. Jefferies maintained its ‘buy’ on the stock with a price target of ₹900. Credit Suisse also maintained its ‘outperform’ rating for the stock with a price target of ₹950. Morgan Stanley also remained ‘overweight’ on the stock as it sees the Airtel share price going up to ₹860. However, JP Morgan was left unimpressed by the numbers as it maintained its ‘underweight’ rating for the stock with a price target of ₹700.

Price Action: Airtel’s share price was up 0.87% to trade at ₹794.20 as markets opened on Wednesday.

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