Bharti Airtel Q1 results: Net profit soars 466%; ARPU rises to Rs 183
Telecom major Bharti Airtel on Monday reported 466% surge in consolidated net profit (attributable to owners of the parent) at Rs 1,607 crore for the quarter ending June 30, 2022, boosted by subscriber additions. It reported net profit of Rs 284 crore in the year-ago period.
The company’s consolidated revenue from operations rose 21% to Rs 32,805 crore as compared to Rs 27,064 crore in Q1FY22. Read more
India seeks to block Chinese firms from sub-Rs 12,000 phone market: Report
India seeks to restrict Chinese smartphone makers from selling devices cheaper than Rs 12,000 ($150) to kickstart its faltering domestic industry, dealing a blow to brands including Xiaomi Corp.
The move is aimed at pushing Chinese giants out of the lower segment of the world’s second-biggest mobile market, according to people familiar with the matter. Read more
Adani Ports Q1 net drops 17% to Rs 1,092 cr; total income rises marginally
Adani Ports and Special Economic Zone (APSEZ) on Monday reported a 16.86 per cent decline in consolidated net profit to Rs 1,091.56 crore for the first quarter of the current financial year.
The country’s largest integrated logistics player had clocked a consolidated net profit of Rs 1,312.9 crore in the corresponding period a year ago, according to a regulatory filing. Read more
Equity MFs’ inflow drops 43% to Rs 8,898 cr in July amid choppy markets
Equity mutual funds attracted Rs 8,898 crore in July, a sharp decline of 43 per cent from the preceding month, amid volatile market conditions.
Although, this was the 17th straight month of positive inflow in equity schemes.
The net inflows in July were lower compared to the net inflow of Rs 15,495 crore seen in June, Rs 18,529 crore seen in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi)on Monday. Read more