| Hot Pursuit | Tuesday, June 06, 2006 13:31 Hrs IST |
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Monthly-subscription data curtails Bharti Airtel's fall Bharti Airtel slipped 0.30%, to Rs 352.35 after it reported addition of 1.1 million new wireless users in the month of May 2006.
As many as 55,571 shares were traded on BSE. The stock has declined steadily from its recent peak, in line with the recent market meltdown. From Rs 424.30 on 04 May 2006, the stock slipped to Rs 353.35 on 05 June 2006 under selling pressure. Bharti Airtel on 02 June 2006, issued 429,677 equity shares upon conversion of $ 2.30 million FCCBs to Merrill Lynch Capital Markets ESPANA S.A. SV - 242,861 equity shares and UBS AG London - 186,816 equity shares. In May, Mobile service provider, Airtel, introduced Easy Lifetime Pre-paid plan wherein customers can go mobile for life for Rs 99 per month in 12 instalments. For its post-paid customers, Bharti Tele-Ventures (BTL) has introduced two new plans - Indian Home and India Roam. The India Home plan offers Airtel to Airtel calls at Re 1 for 2 minutes and all other calls & SMS across the country at Re 1 per minute. The India Roam plan offers roaming calls at Re 1 per minute. Earlier, BSNL, MTNL and Reliance Infocomm had offered similar Re 1 per minute STD plans. It may be recalled that BTL had added a record 1.04 million new subscribers in January 2006, taking its user base to 17.37 million customers. The subscription increase came on the back of a `lifetime pre-paid' scheme announced by most cellular operators including BTL. Bharti Airtel reported a 57.70% slide in Q4 March 2006 net profit to Rs 511.24 crore (Rs 1209.56 crore). Revenue slipped 58.60% to Rs 3,270.36 crore (Rs 7,903.03 crore).
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