Airtel posts strong results

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⭐ Airtel posts strong results

Bharti Airtel reported a 21.9% year-on-year (YoY) rise in its consolidated revenue at ₹34,527 crore during the September quarter. Meanwhile, its net profit jumped by 89.1% YoY to ₹2,145 crore. During the quarter, the average revenue per user (ARPU) increased to ₹190 as compared to ₹153 in the same period last year.  

⭐ Tata Steel’s profits fall

Tata Steel reported an 87% YoY drop in its consolidated net profit at ₹1,514 crore during the September quarter. Meanwhile, its revenue from operations was at ₹59,877 crore, down 0.8%YoY. Decline in realisations amid the global meltdown in commodity prices coupled with high input costs dented the company’s margins and profitability.

⭐ Core sector output grows by 7.9%

The Index of Eight Core Industries (ICI) grew by 7.9% in September 2022, as compared to 5.4% in the year-ago period. The ICI is a measure of production performance in the country’s eight core industries like coal, crude oil, fertilisers, steel and others. The eight core industries account for 40.2% of the weight of items included in the index of industrial production (IIP), which is the indicator of the industrial output in the country. 

Global markets (at 7:30 AM today)

Fact of the day

India’s fiscal deficit was at ₹6.1 lakh crore or 37.3% of the full-year target during April-September 2022.

Source: Economic Times