The country's top telecom operator, Bharti Airtel on Wednesday reported a profit after tax (PAT) of Rs 721 crore versus an ET Now poll of Rs 719 crore for the quarter ended September. This is a 29.8 per cent decline from a PAT of Rs 1027 crore a year earlier.
This is the company's 11th consecutive quarter of profit decline as costs increased and a slowdown in customer additions limited revenue growth.
The sales for the second quarter came in at Rs 20,283 crore versus an ET Now Poll of Rs 19534 crore.
The consolidated EBITDA margin stood at 39.3%. According to Airtel, it is seeing traction in data services in its Indian and African business.
Bharti Airtel surged over 2 per cent to hit its intraday high of Rs 281.10. However, the stock pared some of its morning gains and was trading 0.13 per cent higher at Rs 274.35 at 09:20 am.
Bharti, nearly a third owned by Southeast Asia's top phone carrier, Singapore Telecommunications Ltd, operates in 20 countries across Asia and Africa and is the world's fourth-biggest mobile phone carrier by customers.
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