Bharti Airtel’s scrip fell over one per cent today after the telecom major reported a 29.7 per cent dip in net profit, down for the 11th quarter in a row, for the July-September period of the current fiscal.
Following the results, the company’s stock opened weak and further lost 1.31 per cent to Rs 269.90 on the BSE. On the NSE, the scrip was down 1.53 per cent at Rs 269.55.
“Bharti shares fell as the results of the telecom major were below-street expectations,” CNI Research CMD Kishor Ostwal said.
Bharti’s net profit fell 29.7 per cent to Rs 721.2 crore during the July-September quarter this fiscal. It had posted a net profit of Rs 1,027 crore in the same period last fiscal, the company said in a BSE filing.
The fall in the stock was in sharp contrast with an overall strong equity market where the BSE 30-stock index, Sensex, was trading at 18,922.87, up 105.49 points.