Airtel shares surged by over 2 per cent in the early hours of the day's trade on Friday after bumper Q3 results.
Airtel's Quarterly Bonanaza
Amid the uncertainties that currently envelop Dalal Street and the developments at the equity market, the Q3 results season is in full swing.
And Bharti Airtel, India's second-largest telecom service provider, recorded some major improvement in its performance for the quarter that concluded on December 31.
In an exchange filing filled after the trading hours, the company reported profits of Rs 16,134.6 crore in the third quarter of the fiscal year.
The company's total income stood at Rs 45,599.0 crore, higher than the previous fiscal year's Rs 38,339.3 crore. In Q2 of FY25, that is the quarter that ended in September of 2024, the company coffers saw a total income of Rs 41,728.0 crore. | pixabay
Surge In Profits
This is nearly 300 per cent or about 288 per cent higher than the previous quarter or Q2 when the Sunil Mittal-led company reported profits of Rs 4,153 crore.
The advancement is even better when one looks at the year-on-year data. In the previous cycle (Q3FY24), Airtel managed to accrue total profits of Rs 2,876.4, marking an even bigger margin, in terms of its year-on-year rate of profit.
The company's total income stood at Rs 45,599.0 crore, higher than the previous fiscal year's Rs 38,339.3 crore. In Q2 of FY25, which is the quarter that ended in September of 2024, the company coffers saw a total income of Rs 41,728.0 crore.
Company Shares Surge After Day Of Decline
When we come to the company's performance at the equity market, it is concerned, on Thursday, hours before the result was declared, Airtel shares closed in red with deep cuts.
On Friday, February 7, however, the story was a lot different, as not only did the company shares start in green, it soon capitalised on the quarterly results and rocketed to new heights.
In the very first few minutes of trading, the company shares surged by over 2 per cent.
At the time of publishing, the value of Airtel's shares rose to Rs 1,663.15 per share. This came to pass after a rise of 2.68 per cent or Rs 43.40.
