Bharti Airtel shares in focus after company prepays Rs 3,626 crores to clear 2016 spectrum liabilities
Bharti Airtel are expected to remain in focus today (Friday, September 20) after the telecom major informed exchanges about pre-paying Rs 3,626 crores to clear all liabilities for spectrum acquired in 2016. The company has prepaid a total of Rs 28,320 crores of spectrum liabilities in this calendar year.
«With this, Airtel has now prepaid all its spectrum dues that had interest costs higher than 8.65%,» the company filing on Thursday said.
The announcement was made after market hours and Airtel shares had ended the day at Rs 1,599 on the NSE down by Rs 2.90 or 0.18% over Wednesday closing price as negativity was splattered all over the D-Street following US Federal Reserves hawkish commentary in this years final monetary policy.
Shares of Bharti Airtel have rallied 58% so far this year, out performing the Nifty whose returns stand at 10% in the said period.
Bharti Airtel had reported a 168% jump in its consolidated net profit for the quarter ended September 2024 to Rs 3,593 crore as against Rs 1,341 crore posted in the year-ago period. ARPU for the quarter stood at Rs 233 as compared to Rs 203 in Q2FY24. This translates into a 15% YoY jump in the average revenue per user.
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