Bharti Airtel sheds 1%, Hindalco down 4%

Bharti Airtel sheds 1%, Hindalco down 4%

Mumbai: Bharti Airtel on Wednesday declined over 1% in the early trade on BSE after the country’s leading telecom operator posted a 26.53% dip in its second quarter net profit.

Reacting to the lower-than-expected September quarter numbers, shares of the telecom giant declined by 1.43% to touch an early low of Rs329.25 on the Bombay Stock Exchange.

Bharti Airtel today reported a fall of 26.53% in its net profit for the second quarter ended 30 September, to Rs1,661.2 crore under the international accounting standards from Rs2,263 crore in the same period a year earlier.

Besides, the aluminium and copper producer Hindalco despite registering a 26% rise in its second quarter net profit, plunged by 4.14% to 222.10 in the morning trade on BSE.

The company had yesterday posted a net profit of Rs434 crore for the July-September quarter compared to Rs344 crore in the year-ago period.

Meanwhile, the 30-share benchmark Sensex was also subdued at 20,916.95, down 15.53 points from previous close.