Bharti Airtel is a leading telecommunications company with operations in Asia and Africa. In terms of subscribers, the company is among the top three mobile service providers in india. The company’s product offerings include 3G, 4G, and 5G wireless services, mobile commerce, and other services, such as national and international long-distance services.
The company’s stock closed at a price of Rs 826.85 on Thursday, with a market capitalization of Rs 4,69,243 crores.
The company’s net profit improved by 21% in Q4FY23 to Rs 3,625 crore from Rs 3,001 crore in Q4FY22. Furthermore, revenue from operations climbed by 14% to Rs 36,009 crore from Rs 31,500 crore in the previous year’s equivalent period.
On a YoY comparison of the metrics, the revenues significantly improved from Rs 1,00,615 crores during FY 21-22 to Rs 1,16,546 crores in FY 22-23. For the same time period, The PAT numbers have shifted upwards, by 125 percent from a loss of Rs 23,327 crores to a profit of Rs 5,882 crores.
Having a positive outlook for the Bharti Airtel company, CLSA Research gave a ‘Buy’ tag to the company with a target price of Rs 1,015 indicating an upside of 23 percent as compared to the current price levels.
The rationale behind giving such a recommendation is
- The company’s expansion of 5G services for the larger network, which is now available in 3,500 cities, will be vital to further enhancing post-paid performance.
- The company has increased the number of postpaid members during the past year by three times, reaching 6.63 lakhs, additionally, the Company revenue market share has reached to an all-time high of 38.7 percent.
- Tariffs for the company’s prepaid plans are 33% higher compared to that of Reliance Jio. Furthermore, Bharti Airtel’s postpaid demands are 80 percent higher than its prepaid plans.
According to the latest shareholding pattern, promoters of the company hold a 55.02 percent stake, and Foreign institutional investors (FIIs) hold a 20.97 percent stake in the company for FY 22-23.
Written by Omkar C
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