Vodafone Idea, Bharti Airtel rally despite hefty Q2 losses: What analysts say

NEW DELHI: To much surprise, shares of Bharti Airtel and Vodafone Idea rebounded in Friday’s trade even as the two telecom majors posted record losses in the September quarter. Voda Idea and Airtel together reported a whopping 74,000 crore loss in Q2FY20.

After falling as much as 10 per cent in the opening trade, Vodafone Idea traded 6.78 per cent higher at Rs 3.15 at around 10:15 am (IST). Meanwhile, Bharti Airtel was up 6.34 per cent at Rs 386 after falling as much as 2.27 per cent in the early trade.

Vodafone Idea posted a loss of Rs 50,921 crore — the highest-ever quarterly loss by any corporate in India. And Bharti Airtel’s loss figure for the quarter stood at Rs 23,045 crore. Both of the telecom players have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.