On Wednesday, Bharti Airtel shares witnessed huge fluctuations due to the mistake of National Security Depository Limited (NSDL). Actually, NSDL withdrew a decision related to Airtel within two hours, due to which Airtel shares saw pressure from the upper levels.
Actually, NSDL withdrew it within 2 hours after putting the notice of Foreign Institutional Investment (FII) limit to 100 percent. After which the stock slipped more than 9 percent from the upper level. Finally, the stock closed up 3.32 percent at Rs 447.75 on the NSE.
When NSDL reported the FII limit in Airtel to be 100 per cent, the stock was witnessing a sharp rise. The stock saw a jump of over 13 percent. At one time, Airtel shares also touched the Rs 485 level. However, the stock declined due to withdrawal of notice by NSDL.
Earlier, the telecom giant Bharti Airtel reported better second quarter results. Consolidated net loss to the company stood at Rs 763 crore in the second quarter of FY 2020-21. The company had a net loss of Rs 23,405 crore in the same period a year ago. While the company had a loss of Rs 15,930 crore in the first quarter.
The company’s earnings improved in the second quarter. The company’s revenue increased by 22 percent to Rs 25,785 crore in the September-2020 quarter. The company’s income in the same period a year ago was Rs 21,131 crore. Whereas in the first quarter of this financial year, the company had an income of Rs 23,940 crore.
The company incurred a lump sum loss of Rs 49.3 crore in the second quarter. Airtel’s consolidated Ebitda stood at Rs 11,848 crore in the second quarter. Bharti Airtel Ebitda margin stood at 46 per cent in the second quarter. On a quarter-on-quarter basis, the company’s other income declined from Rs 480.5 crore to Rs 148.9 crore in the second quarter.
Airtel’s average revenue per user (ARPU) in the second quarter stood at Rs 162, compared to Rs 128 a year ago. The shares of Airtel have been seen under pressure for the last few days.