The shares of this leading telecom company rose by 1% to reach an intraday high of ₹1,442 per share after the company prepaid ₹7,904 crore to the Department of Telecom related to its spectrum liabilities.
At 12:20 p.m. on Tuesday, Bharti Airtel Ltd. shares were trading on the National Stock Exchange at ₹1,419, marking a 0.54 % decrease from the previous closing price. The company’s market capitalization stands at ₹8,07,744 crore.
According to Bharti Airtel’s exchange filing, the company announced that it prepaid Rs. 7,904 crores to the Department of Telecom (Government of India) on June 14th.
This payment fully settles all deferred liabilities related to spectrum acquired in auctions held in 2012 and 2015, which carried interest rates of up to 9.75% and 10%, respectively.
The company’s share has delivered returns of 43 percent in six months and 71 percent in a year.
Bharti Airtel Ltd is a globally recognized telecommunications service provider, offering a diverse range of services including mobile, voice, and data solutions across 18 countries such as India, Sri Lanka, and 14 countries in Africa, leveraging 2G, 3G, and 4G technologies.
In FY23-24, the company reported a 7.7% increase in revenue from operations, rising from Rs. 1,39,145 crores in FY22-23 to Rs. 1,49,982 crores. However, net profits declined by 30% from Rs. 12,287 crores to Rs. 8,558 crores during the same period.
Bharti Airtel is recognized as India’s largest integrated communications solutions provider and the second largest mobile operator in Africa, Bharti Airtel commands a significant market share with approximately 35% in revenue, 33% in spectrum, 16% in domestic remittances, and 7% in Aadhar-enabled payment systems.
As of FY24, the company maintains a gross profit margin of 53.15%, with a return on equity (ROE) of 9.10% and a return on capital employed (ROCE) of 13.13%.
Written by Omkar Chitnis
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