India's second largest telecom company Bharti Airtel has become the fourth company in the country to cross the market cap of Rs 10 lakh crore. Airtel's stock saw a rise of more than 3% during trading on Thursday (September 19), due to which its market value crossed the milestone of Rs 10 lakh crore.
However, the stock later declined and closed at Rs 1,672 with a gain of 1.03%. This reduced the company's market cap to Rs 9.97 lakh crore. The company has added Rs 1 lakh crore to its market value in just 18 sessions.
At the beginning of this year, Airtel was the 7th largest company in the country in terms of market value. But, in 9 months, the company grew rapidly and left behind companies like Hindustan Unilever, Infosys and ICICI Bank.
Airtel earns Rs 4,160 crore profit in Q1
The profit in the first quarter of the financial year 2025 was Rs 4,160 crore. There was an increase of 157.90% on an annual basis. In April-June 2023, the company had a profit of Rs 1,613 crore.
Airtel's consolidated operational revenue in April-June grew 2.85% year-on-year to Rs 38,506 crore as against Rs 37,440 crore in the same quarter of 2023.
Airtel's Indian business
- Airtel's revenue from India business stood at ₹29,046 crore in the first quarter.
- Company's revenue increased by 10.1% compared to Q1FY24.
- Airtel spent Rs 6,781 crore on operations in India in Q1.
Graphics Source: VaskarAssets
