Why Bharti Airtel shares rose over 5% despite posting record loss in Q2
Bharti Airtel share price gained as much as 5.12 per cent to touch intraday high of Rs 381.25 apiece on the BSE, after opening tad lower at Rs 354.40 against previous close level of Rs 362.65
- Nov 15, 2019,
- Updated Nov 15, 2019 10:06 AM IST
Shares of Bharti Airtel rose over 5 per cent in intraday trade on the Bombay Stock Exchange on Friday despite disappointing earnings for the second quarter ended September 30, 2019. The Sunil Mittal-led company has posted highest-ever quarterly loss of Rs 23,045 crore during the second quarter ended September 30, 2019 as compared to a net profit of Rs 118.80 crore in the same quarter last year. However, the company's loss before exceptional items for the quarter stands at Rs 1,123 crore.
Paring previous session losses, Bharti Airtel share price gained as much as 5.12 per cent to touch intraday high of Rs 381.25 apiece on the BSE, after opening tad lower at Rs 354.40 against previous close level of Rs 362.65.
On the National Stock Exchange (NSE), stocks of Bharti Airtel were trading 1.71 per cent higher at Rs 368.70. In the volatile trade so far, the scrip touched an intraday high and low of Rs 373.25 and Rs 357.25, respectively.
Shares of Bharti Airtel rose over 5 per cent in intraday trade on the Bombay Stock Exchange on Friday despite disappointing earnings for the second quarter ended September 30, 2019. The Sunil Mittal-led company has posted highest-ever quarterly loss of Rs 23,045 crore during the second quarter ended September 30, 2019 as compared to a net profit of Rs 118.80 crore in the same quarter last year. However, the company's loss before exceptional items for the quarter stands at Rs 1,123 crore.
Paring previous session losses, Bharti Airtel share price gained as much as 5.12 per cent to touch intraday high of Rs 381.25 apiece on the BSE, after opening tad lower at Rs 354.40 against previous close level of Rs 362.65.
On the National Stock Exchange (NSE), stocks of Bharti Airtel were trading 1.71 per cent higher at Rs 368.70. In the volatile trade so far, the scrip touched an intraday high and low of Rs 373.25 and Rs 357.25, respectively.