The good news in Bharti Airtel’s 29% profit fall3 min read 30 Oct 2013, 11:08 AM IST
Investors seem happy with the 15.1% increase in Ebitda during the September quarter
Evidently, investors in the Indian markets aren’t fixated with the net profit of a company. Bharti Airtel Ltd reported a 29% decline in its September quarter net profit, making it the 15th successive quarter of year-on-year decline in net profit. Still, BhartiAirtel’s shares rose 5.23% on Wednesday, making it the top gainer among Nifty stocks. Investors were pleased with the 15.1% increase in earnings before interest, tax, depreciation and amortization (Ebitda). In the process, they ignored the sharp jump in provisioning for taxes and finance costs, owing to mark-to-market losses and a one-time regulatory levy in the company’s international operations.
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