Bharti Airtel, India’s second-largest telco, reported a 50% YoY increase in its consolidated net profit for the fiscal Q4 as it benefited from a one-time exceptional gain from its Africa business and saw strong 4G user additions and increased data and voice services consumption. Revenue grew by 0.6% sequentially and 14.3% YoY, while mobile revenue grew just over 1% sequentially and 12% YoY. The telco’s shares closed 1.44% lower after it recommended a final dividend of Rs. 4 per fully paid-up equity share of face value of Rs. 5 each.
Traders raise odds of 50 bps Fed rate hike as CPI rise exceeds expectations
New data has revealed that US consumer prices rose faster than anticipated, prompting speculation about interest rate changes. Fed Governor Christopher Waller suggested a half