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    Buy Bharti Airtel, target price Rs 850: Phillip Capital (India)

    Synopsis

    ​Bharti reported a decent set of numbers – broadly inline with expectations. The ARPU and mobile business revenue grew 9% qoq, while digital businesses remained soft. Margins were inline with estimates, while PAT (adjusted for exceptional gain) was along expected lines.

    AirtelAgencies
    Phillip Capital (India) has buy call on Bharti Airtel Ltd. with a target price of Rs 850.0. The current market price of Bharti Airtel Ltd. is Rs 673.5 Time period given by analyst is year when Bharti Airtel Ltd. price can reach defined target.

    Bharti Airtel Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 396749.93 Crore) operating in Telecommunications sector.

    Bharti Airtel Ltd. key Products/Revenue Segments include Service Revenue and Sale of Products for the year ending 31-Mar-2021.

    Financials
    For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 31518.90 Crore, up 4.84 % from last quarter Total Income of Rs 30063.70 Crore and up 22.02 % from last year same quarter Total Income of Rs 25831.20 Crore. Company has reported net profit after tax of Rs 3001.40 Crore in latest quarter.

    Investment Rationale:
    Bharti reported a decent set of numbers – broadly inline with expectations. The ARPU and mobile business revenue grew 9% qoq, while digital businesses remained soft. Margins were inline with estimates, while PAT (adjusted for exceptional gain) was along expected lines.

    Overall decent results, with no major positive/negative surprise. Post the sector reforms announced by the govt in Sep-21, Bharti stands in a comfortable position, with lower repayment obligations, thus enhancing its cashflows and enabling it to prepare a war-chest for upcoming 5G capex cycle. Its recent steps to prepay high-cost spectrum dues, refinance high-cost debt, and above all, direct tariff hikes in prepaid segment, indicate its endeavor to continuously improve business fundamentals.

    Promoter/FII Holdings
    Promoters held 55.93 per cent stake in the company as of 31-Mar-2022, while FIIs owned 24.79 per cent, DIIs 14.08 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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