Bharti Airtel shares up over 2% post Q2 earnings

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Bharti Airtel’s scrip today rose over 2 per cent even after the company posted a 4.9 per cent drop in consolidated net profit for the September quarter.

of the company went up 2.25 per cent to end at Rs 318.05 on BSE. During the day, it jumped 3.76 per cent to Rs 322.75.

At NSE, of the company gained 1.89 per cent to close at Rs 317.70.

On the volume front, 3.65 lakh of the company were traded on and over 58 lakh changed hands at during the day.

yesterday posted a 4.9 per cent drop in consolidated net profit at Rs 1,461 crore for the September quarter, mainly on account of increased interest costs and devaluation of Nigerian currency.

The company had reported a net profit of Rs 1,536 crore in the year-ago period.

“Net interest costs of Rs 1,603 crore have risen from Rs 1,053 crore in the corresponding quarter last year- largely due to increased spectrum related interest costs,” Airtel said in a statement.

Net debt at the end of the quarter stood at Rs 81,480.3 crore.