Bharti Airtel reaches a summit on robust Q2 results
Cellular services major Bharti Airtel gained 1.3% to Rs 548.95 on sustained buying following robust Q2 results.
The scrip hit a high of Rs 552.80 which is a lifetime high for the counter. 2.2 lakh shares changed hands in the stock on BSE.The stock witnessed a sustained rise since late-July 2006 amid a bout of correction from late-September to early-October 2006. From Rs 357.60 on 21 July, it has surged 53.5%.
Bharti Airtel’s consolidated net profit as per US GAAP jumped 79% to Rs 934 crore for Q2 September 2006. Consolidated revenue rose 61% to Rs 4,357 crore. The company announced Q2 results during trading hours on 27 October.
Recently, Bharti announced merger of its Kolkata and West Bengal circles into a single integrated cellular operation, christened Bharti Airtel-Bengal. Bharti Airtel has also decided to bring its landline, mobile and broadband businesses in West Bengal under one umbrella. The decision to merge Airtel's Kolkata and West Bengal circles will enhance the scale of the combined operation, especially with a consolidated subscriber base of 1.45 million.
Early this week, Bharti Airtel announced yet another network outsourcing deal by awarding a $400 million contract to Nokia for expanding its managed GSM networks in eight circles. This also marks Bharti's third major deal with Nokia in the last two years.
The company is a market leader in the cellular segment with a market share of 21.4%.
Bharti Airtel is also strengthening and expanding its enterprise services business, which includes long distance and corporate enterprise businesses. It is focusing on seven key verticals as it begins to cash in on the telecommunication needs of large enterprises, including banks, BPOs and financial services.Meanwhile, the company is planning to acquire mobile operating firms in emerging markets such as Africa, West Asia and South Asia to expand its business.
The scrip hit a high of Rs 552.80 which is a lifetime high for the counter. 2.2 lakh shares changed hands in the stock on BSE.The stock witnessed a sustained rise since late-July 2006 amid a bout of correction from late-September to early-October 2006. From Rs 357.60 on 21 July, it has surged 53.5%.
Bharti Airtel’s consolidated net profit as per US GAAP jumped 79% to Rs 934 crore for Q2 September 2006. Consolidated revenue rose 61% to Rs 4,357 crore. The company announced Q2 results during trading hours on 27 October.
Recently, Bharti announced merger of its Kolkata and West Bengal circles into a single integrated cellular operation, christened Bharti Airtel-Bengal. Bharti Airtel has also decided to bring its landline, mobile and broadband businesses in West Bengal under one umbrella. The decision to merge Airtel's Kolkata and West Bengal circles will enhance the scale of the combined operation, especially with a consolidated subscriber base of 1.45 million.
Early this week, Bharti Airtel announced yet another network outsourcing deal by awarding a $400 million contract to Nokia for expanding its managed GSM networks in eight circles. This also marks Bharti's third major deal with Nokia in the last two years.
The company is a market leader in the cellular segment with a market share of 21.4%.
Bharti Airtel is also strengthening and expanding its enterprise services business, which includes long distance and corporate enterprise businesses. It is focusing on seven key verticals as it begins to cash in on the telecommunication needs of large enterprises, including banks, BPOs and financial services.Meanwhile, the company is planning to acquire mobile operating firms in emerging markets such as Africa, West Asia and South Asia to expand its business.
posted by SY at 5:42 PM
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