The Telecomm company specializing in telecommunications, offering a range of services including mobile networks, broadband, digital TV, enterprise solutions, and 5G technology, is in focus following the block deal involving Rs. 153 crores.
Price action
With a market capitalization of Rs. 9,35,145.27 Crores on Tuesday, the shares of Bharti Airtel Ltd jumped upto 0.6 percent after making a high of Rs. 1640.55 compared to its previous closing price of Rs. 1629.70.
What Happened
Bharti Airtel Ltd engaged in telecommunications, offering a range of services including mobile networks, broadband, digital TV, enterprise solutions, and 5G technology, recently experienced a block deal, in which SEI Trust Company as Trustee OBO Allspring Emerging Markets Equity CIT Bought 9.39 Lakh equity shares at Rs. 1630.70 apiece on March 10, resulting in a total value of around Rs. 153 crores.
While Wells Fargo Emerging Markets Equity CIT sold 9.39 Lakh shares at Rs. 1630.70 apiece on March 10, resulting in a total value of around Rs. 153 crores.
About the company
Bharti Airtel Ltd is one of India’s leading telecommunications companies, offering a wide range of services including mobile, broadband, and digital TV. It operates in multiple countries across Asia and Africa, providing voice, data, and content services to millions of customers. The company is known for its innovative approach, providing advanced 4G and 5G network solutions.
Segment Update (Q3FY25)
In the mobile segment, we added 4.9 million customers, with Average Revenue Per User (ARPU) rising to Rs. 245 from Rs. 233 from last quarter. Broadband saw 674,000 new customers, and Fixed Wireless Access (FWA) expanded to over 2,000 cities. DTH added 29,000 customers, while Airtel Business grew revenue by 8.7 percent to nearly Rs. 5,650 Crores.
Financials
The company’s total revenue rose by 18.9 percent from Rs. 38,339 crore to Rs. 45,599 crore in Q3FY23-24. Meanwhile, Net profit rose from Rs. 2,442.2 crore to Rs. 14,781 crore during the same period.
Written by Sridhar J
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