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Bharti Airtel shines as its arm reports profit of $412 million for FY19

Mumbai : Bharti Airtel is currently trading at Rs. 323.95, up by 3.75 points or 1.17% from its previous closing of Rs. 320.20 on the BSE. The scrip opened at Rs. 321.90 and has touched a high and low of Rs. 325.20 and Rs. 321.90 respectively. So far 19558 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 383.95 on 04-May-2018 and a 52 week low of Rs. 254.29 on 22-Oct-2018. Last one week high and low of the scrip stood at Rs. 335.55 and Rs. 314.25 respectively. The current market cap of the company is Rs. 164294.34 crore. The promoters holding in the company stood at 67.14%, while Institutions and Non-Institutions held 30.86% and 2.00% respectively.

Bharti Airtel’s subsidiary — Airtel Africa has reported its first full-year profit at $412 million for the 2018-19 fiscal. This growth is helped by higher data consumption and Airtel Money penetration. The company had posted a loss of $138 million for 2017-18.

The company’s revenue increased by 5.73 per cent to $3,077 million in 2018-19 from $2,910 million a year ago. Data customers in Airtel Africa network increased by 5.1 million to 30 million as compared to 24.9 million in the previous year. Airtel Money revenue grew by close to 60 per cent to $243.3 million in FY19 as compared to $152.4 million in 2017-18. Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.

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