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Bharti Airtel reports Q1 net loss of ₹2,866 cr



Bharti Airtel reports Q1 net loss of ₹2,866 cr

With stiff competition and tariff rate diving to a minimum level, telecom services provider Bharathi Airtel (Airtel) on Thursday reported a consolidated net loss of ₹2,866 crore for the first quarter ended June, the first time in 14 years. The Gurugram-based company had reported a net profit of ₹97 crore in the corresponding period last year.

However, the total revenue of the company during the period grew by around 5 percent year-on-year (YoY) to ₹20,738 crore as compared with ₹19,799 crore in the April-June quarter last year. “The first quarter of the year has begun with healthy and equitable growth across all our lines of businesses. Headline pricing remained stable, albeit at low levels. We continue to remain focused on providing value to customers through our rewards platform, Airtel Thanks. This has led to the second consecutive quarter of average revenue per user (ARPU) increase,” Gopal Vittal, Managing Director and Chief Executive Officer, India and South Asia, Airtel said.

Overall customer base stands at 404 million across 16 countries as of June 30 and India mobile ARPU increased to ₹129 in the quarter, the company said adding that total Capex spend for the quarter stood at ₹5,047 crore. “We remain obsessed with network experience. As a result, we have a re-farmed spectrum from 3G networks to 4G across both the 900 as well as 2100 bands and begun the process of shutting down 3G networks in India. This has enabled us to deliver improved indoor coverage as well as enhance our capacities,” Vittal added.

Mobile revenues have witnessed a YoY growth of 3.7 percent during the quarter and mobile data traffic has nearly doubled to 3,904 PBs in the quarter as compared to 2,003 PBs in the corresponding quarter last year, Airtel said. Mobile 4G data customers increased by 63.3 percent to 95.2 million from 58.3 million in the corresponding quarter last year.

Nonmobile businesses continue to perform well. Digital TV revenue witnessed a growth of 15.7 percent YoY (a decline of 25.5 percent on a reported basis due to reporting changes in DTH pursuant to the new tariff order, leading to content cost becoming a pass-through expense) on an underlying basis, it said. “Airtel Business has witnessed a growth of 7.2 percent YoY. Consolidated EBITDA at Rs.8,493 crore increased 24.2 percent YoY. The consolidated EBITDA margin increased by 6.4 percent to 41 percent in the quarter as compared to 34.5 percent in the corresponding quarter last year,” it added.

The stock of Bharti Airtel closed 4.10 percent lower at ₹323.95.

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Asia stock markets followed Wall Street lower Wednesday

The Sensex is down 91.50 points at 36968.87.Nifty is down 33.40 points at 10885.30



On Wednesday Indian indices to be trade in negative,expect pharma and FMCG other sector are trading lower led by the metal, auto, energy, infra and IT.

Asia’s stock markets outpaced Wall Street on Wednesday as investors made a speech by the Federal Reserve chairman to signal possible plans to cut more US interest rates.

US stocks fell on Tuesday after another drop in bond yields and a mixed batch of corporate earnings. Financial sector stocks led the decline.

Markets have “entered a holding pattern” ahead of Powell’s speech at an annual gathering in Jackson Hole, Wyoming .from sourc


US crude rose 18 cents to $ 56.31 a barrel in electronic trading on the New York Mercantile Exchange. The contract closed 1 percent down at $ 56.13 on Tuesday. Brent crude, which is used to price international oils, rose 24 cents to $ 60.27 a barrel in London. Contract 27 advanced last season to $ 60.03.

Rupee Update:

On Thursday Indian rupee opened flat at 71.56 per dollar versus previous close 71.55.

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Market watch ,Wednesday 21

Metal, FMCG and Energy trading lower



On Wednesday 21 ,the market Started Flat , except IT other indices are trading lower led by the metal, FMCG and energy. Shares of United Spirits gained 3.4 percent on August 21 after promoter Relay BV acquired more shares and increased stake in the company.

On Tuesday Global shares were merged after rallying a day before the US decision to give Chinese telecom giant Huawei for 90 days to buy equipment from US suppliers.

Markets around the world have been swinging back and forth for months on incremental developments in the US-China trade war, with investors eager for any sign of progress.

Asian Market:

Asia shares rise mostly, as Japan’s benchmark Nikkei 225 gained 0.6% to close at 20,677.22.

Australia’s S&P / ASX 200 rose 1.2% to 6,545.00. South Korea’s Kospi rose 1.1% to 1,960.25.

Hong Kong’s Hang Seng fell 0.2% to 26,236.54. The Shanghai Composite was down 0.1% at 2,880.00.

Oil Update:

Benchmark crude oil lost 24 cents to $ 55.97 a barrel. Brent crude fell 25 cents to $ 59.49 a barrel internationally.

Rupee Update:

The Indian rupee gained in the early trade has opened higher by 25 paise at 71.45 per dollar .

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Stock Market Watch ,Tuesday 20

Market Updates



Global stock markets recovered some further ground Monday after last week’s turbulence. The ongoing trade war between the United States and China and an array of worries about waning growth across the world weighed heavily on sentiment.

Last week, many stock indexes around the world struck their lowest levels this year. Nifty Future is trading in negative and have a chance to fall on Tuesday

Investors are hoping that the U.S. Federal Reserve will continue to cut interest rates to shore up economic growth. The central bank lowered interest rates by a quarter-point at its last meeting. It was the first time it lowered rates in a decade.

World Market

In Asia, Japan’s benchmark Nikkei 225 rose 0.7% to finish at 20,563.16. Australia’s S&P/ASX 200 gained 1.0% to 6,467.40, while South Korea’s Kospi was 0.7% higher at 1,939.90. Hong Kong’s Hang Seng rose 2.1% to 26,278.22. The Shanghai Composite added 2.1% to 2,883.10.

Crude Oil Update:

Benchmark crude oil rose 14 cents to $55.01 a barrel. It rose 40 cents to settle at $54.87 a barrel Friday. Brent crude oil, the international standard, rose 27 cents to $58.91 a barrel.

Rupee update:

On Tuesday the Indian rupee opened lower at 71.51 per dollar against previous close 71.43 on Monday

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