On Wednesday, the shares of Bharti Airtel Ltd were low 3 per cent to Rs 689.50 on the Bombay Stock Exchange (BSE). The company has reported a nearly threefold increase in net profit to Rs 2,008 crore in Q4FY22. In the same quarter, telecom operators had posted Rs 759 crore.

The stock of Bharti Airtel slipped 5 per cent from its intra-day high of Rs 727.55. While it opened 2.5 per cent higher at Rs 725.40 on the BSE, the stock later slipped 2 per cent lower at Rs 692.55 at 01:58 pm. In comparison, the S&P BSE Sensex declined 0.11 per cent.

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Meanwhile, consolidated revenue for the quarter rose 22.3 per cent to Rs 31,500 crore on a year-on-year basis while average revenue per user (ARPU) grew 9.2 per cent sequentially and over 22 per cent on a year on year basis to Rs 178.

In November 2021, mobile service providers undertook a 20 per cent tariff hike resulting in revenue growth for all the companies. Airtel’s fourth-quarter result was also boosted by an exceptional income of Rs 906 crore that included gains from the sale of telecom tower assets and settlement with a strategic vendor. In the past one week, Airtel has underperformed the market by falling 4 per cent, as compared to a 0.28 per cent rise in the Sensex. Earlier, it had hit a record high of Rs 782 on November 24, 2021.

According to analysts at ICICI Securities, Airtel continues to report a stable performance on the Indian wireless business front. “With better key performance indicators (KPIs) in terms of subscribers’ stickiness and margins; management commentary on overall growth drivers would be key monitorable ahead,” the brokerage firm added.