Bharti Airtel rallies 6% on strong Q4 results; stock nears all-time high

Shares of Bharti Airtel rallied 6 per cent to Rs 569 on the BSE on Tuesday in the early morning trade after the company reported a healthy 15.1 per cent year-on-year (YoY) growth in consolidated revenue at Rs 23,723 crore for the quarter ended March 2020 (Q4FY20).

The stock of the telecom services provider is trading close to its all-time high level of Rs 570 touched on May 13, 2020. In comparison, the S&P BSE Sensex was up 1.1 per cent or 329 points at 30,358 at 09:25 am.

The company’s India revenues also reported a strong 14.4 per cent YoY jump at Rs 17,438 crore during the quarter. Mobile revenues witnessed a YoY growth of 21.8 per cent primarily led by increase in 4G customer base coupled with improved tariffs.