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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed Quote. Delayed NSE India Stock Exchange - 06/14 07:14:09 am
2244.9 INR   +1.43%
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India's Bharti Airtel shares fall as key revenue metric hit

05/18/2021 | 01:42am EDT
Outbreak of the coronavirus disease (COVID-19) in Kolkata

BENGALURU (Reuters) -Shares of Bharti Airtel Ltd fell more than 2% on Tuesday, a day after the Indian telecom operator saw a key revenue metric miss an analyst estimate despite solid subscriber additions and higher data usage during the pandemic.

Shares of the country's second-largest telecom operator fell as much as 2.3% to 537.25 rupees in morning trade and were set for a fifth straight session of losses.

The company's quarterly average revenue per user (ARPU) at its India mobile services business rose 7.4% to 145 rupees from a year earlier, but dropped nearly 13% from the previous quarter.

Analysts at Jefferies had expected Airtel's India mobile ARPU for the fourth quarter to be 152 rupees. The company did not give details on the sequential drop, but has a call with investors scheduled later in the day.

The drop comes after the Telecom Regulatory Authority of India's guidelines to abolish https://www.reuters.com/article/india-telecoms-idUSL4N28R3HS interconnection usage fees, which operators pay each other for calls made from one network to another, were implemented from Jan. 1.

Rival firm Reliance Jio, controlled by billionaire Mukesh Ambani, had reported ARPU of 138.2 rupees per subscriber per month for the March quarter - a sequential drop of about 9%.

Bharti Airtel posted a consolidated profit of 7.59 billion rupees ($103.83 million) for the quarter ended March 31, compared with a loss of 52.37 billion rupees a year earlier.

It added 14.1 million subscribers in India during the first three months of 2021, growing its base to more than 350 million, while bigger rival Reliance Jio added 15.4 million net subscribers in the quarter to reach 426.2 million subscribers.

Bharti Airtel's revenue from operations for the quarter was 257.47 billion rupees, nearly 12% higher than 230.19 billion rupees the previous year.

($1 = 73.1030 Indian rupees)

(Reporting by Shivani Singh in Bengaluru; Editing by Ramakrishnan M. and Devika Syamnath)


ę Reuters 2021
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Financials
Sales 2022 6 612 B 90 349 M 90 349 M
Net income 2022 589 B 8 043 M 8 043 M
Net cash 2022 122 B 1 661 M 1 661 M
P/E ratio 2022 25,8x
Yield 2022 0,36%
Capitalization 14 253 B 195 B 195 B
EV / Sales 2022 2,14x
EV / Sales 2023 1,81x
Nbr of Employees 236 334
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 2 260,34 INR
Last Close Price 2 244,90 INR
Spread / Highest target 90,8%
Spread / Average Target 0,69%
Spread / Lowest Target -39,9%
EPS Revisions
Managers and Directors
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
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