Share price of Bharti Airtel touched a fresh ten-year high on Wednesday, growing by above 9% on BSE after the stellar Africa business performance in Sept quarter. The performance was also triggered by hope of early sale of tower business.
Airtel’s Africa operations recorded a 7.2% increase on a quarterly basis. Earnings before interest, tax, depreciation and amortization grew by 23.7% to Rs. 1,684.1 crore during the corresponding period, while the margin expanded by 32.3% in the quarter. The net profit of the company from Africa operations rose by 6.6%, while its revenue decreased by 0.8%.
Bharti Airtel hit an intraday high and low of Rs. 544.50 & Rs.509.45 per share respectively. It also reported a surge in volume by more than 2.48 times. At mid-noon hours, the
Bharti Airtel stock was trading at Rs. 543.50 per share, higher by 9.21% on BSE.