Bharti Shares Decline 4 Percent on Q1 Numbers

Mumbai: Bharti Airtel scrip plunged over 4 per cent as the company's net profit declined 37 per cent for the first quarter ended June 30, 2012, the tenth straight quarterly fall. Following the disappointing set of numbers, the shares fell 4.4 per cent to Rs 280.85 on the BSE. On the NSE, the scrip lost 4.49 per cent to Rs 280.60. The stock was the worst performer among the BSE 30 blue-chip Sensex scrips in the early trade. Bharti Airtel's net profit fell 37 per cent to Rs 762.2 crore for the first quarter ended June 30, 2012 against Rs 1,215.2 crore in the same period last fiscal, the company said in a statement. Total revenues were, however, up by 14 per cent to Rs 19,350 crore in the quarter against Rs 16,975 crore in Q1 FY'12, marked by 31.5 per cent growth in Africa and 44.2 per cent increase in mobile data revenues from India.