After posting a surprise loss of ₹ 5237 crore Bharti Airtel’s shares rose 11% today. Many analysts are pointing at the strong growth in subscriber base, a major reason for investors showing their faith in the company.
Recently, the telecom operator raised mobile tariffs which helped boost average revenue per user. The company’s average revenue per user grew 25% to ₹ 154/- in the Jan-March quarter.
Although, the Delhi-based Airtel had to cough up ₹ 5,642 crore for one-time spectrum charges. This resulted in a net loss of ₹ 5,237 crore for the quarter ending on March 31.
Investors brushed aside the loss to lift the stock to a price of ₹ 603.5 per share. The stock finally closed at ₹ 598.8 in NSE.
