Bharti Airtel hits over 3-week high; stock up 1%

Shares of Bharti Airtel hit over 3-week high on Friday after the company reported largely in-line results for Q1FY19 due to a strong EBITDA expansion of ~840bps yoy in the African business. Its revenue de-grew by 8.6% yoy to Rs20,080cr (expectation Rs19,958cr). EBITDA stood at Rs6,826cr, down 12.60% yoy against estimates of Rs6,696cr. The company’s adjusted net loss stood at Rs104cr against an expected loss of Rs223cr, due to an exceptional loss of Rs362cr.

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