Airtel shares down 1.8% after telco reports lower Q4 profit vs Q3

Kolkata: Bharti Airtel shares were down nearly 1.8% Tuesday morning trade on BSE, a day after the Sunil Mittal-led telco’s net profit for the March quarter fell 11% sequentially in the October-December period, with ARPU dragged by the absence of interconnection usage charges (IUC).

India’s No 2 mobile carrier, though, posted a consolidated net profit of Rs 759 crore in the January-March period – its second successive quarter in the black after six straight losses – backed by a one-time gain and continued strong subscriber additions.

Airtel shares were down 1.8 % to Rs 539.80 in BSE mid-morning trade.