Shares of Bharti Airtel Ltd slumped 2.81% to an intraday low of Rs 1,810.10 a share on Friday, 16 May, as Singtel divested its stake in the company. 

Bharti Airtel shares fell after Singapore-based telecom firm Singtel sold shares worth $1 billion (Rs 8,568 crore) in a block sale on Friday.

Singtel plans to sell 47.6 million shares at a floor price of Rs 1,800 per share, at a 3.3% discount to Bharti Airtel’s current market pricing. According to reports, JPMorgan will function as the transaction’s broker.

In its quarterly earnings for January-March, Bharti Airtel recorded a net profit of Rs 11,022 crore for the fourth quarter of FY 2024-25, a 432% Year-on-Year (YoY) increase from Rs 2,071.6 crore in the same period last year.

Revenue from operations increased 27% YoY to Rs 47,876.2 crore, from Rs 37,599.1 crore in Q4FY24. 

According to the company’s exchange statement, this expansion was fueled by excellent performance in the Indian market, a rebound in reported currency revenue growth in Africa, and the full-quarter benefit of the Indus Towers consolidation.

Bharti Airtel Limited, based in New Delhi, is one of the world’s biggest telecommunications firms, having operations throughout Asia and Africa. 

The company provides a wide range of services, including mobile voice and data, high-speed broadband, digital television, and fixed-line solutions. It is also a significant player in the enterprise market, offering secure connectivity, cloud services, and data centre solutions.

With a presence in 18 countries, including India and numerous African nations, Bharti Airtel is one of the top three worldwide mobile service providers in terms of user numbers. It provides 2G, 3G, 4G, and 5G mobile internet, as well as home services through the Airtel Xstream Fibre brand. 

The corporation also runs a popular DTH platform and has strategic subsidiaries, such as Bharti Hexacom and Bharti Infratel, to assist its broadband and telecom infrastructure activities.

At 12:47 pm, the shares of Bharti Airtel were trading 2.59% lower at Rs 1,818.90 on NSE.

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