Shares of Bharti Airtel climbed 3 percent intraday on October 30 after the telecom operator reported better-than-expected mobile revenue and ARPU in India for the July-September quarter.
Airtel declared its operational highlights in the evening on October 29, saying India mobile revenue grew by 1 percent sequentially (up 7 percent YoY) to Rs 10,981.4 crore in the quarter.
India mobile average revenue per user (ARPU) declined to Rs 128 against Rs 129 in the June quarter, while minutes of usage (MoU) dropped 4.5 percent quarter-on-quarter to 848 in Q2FY20.
India mobile revenue was estimated at Rs 10,786 crore, down 0.7 percent QoQ, according to the average of estimates of analysts polled by CNBC-TV18.
Subscribers base in India stood at 30.47 crore at the end of September, up 1.1 percent QoQ but a drop of 13.3 percent compared to the year-ago period.
Its digital TV services’ customers also increased 1.1 percent QoQ and average revenue per user jumped 3.8 percent to Rs 162 in Q2FY20. Home services consumers rose 0.3 percent sequentially, but average revenue per user fell 5.8 percent QoQ to Rs 777.
The company had already announced its Africa results. Revenue from its Africa business increased 6 percent sequentially to $844 million and at operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved 40bps QoQ to 44.1 percent in Q2FY20.
The stock fell 3.4 percent in the previous session after the company deferred the announcement of its September quarter results to November 14, saying clarity was needed on the adjusted gross revenue matter arising out of a recent Supreme Court judgment.
The company said it was approaching the Department of Telecommunication to seek clarity on the total amounts involved and request its support to deal with the adverse outcome.
The stock was quoting at Rs 368.20, up Rs 8.25, or 2.29 percent, on the BSE at 1049 hours.