Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
Shares of telecom major Bharti Airtel were trading flat at Rs 712.30 a day after the company reported a consolidated net profit of Rs 1,134 crore for the quarter ending September 30, 2021. This is an increase of massive 300% when compared with Rs 283 crore in the previous quarter. In the corresponding quarter last year, the company posted a net loss of Rs 763 crore.
While its revenue from operations jumped 13% to Rs 28,326 crore as against Rs 25,060 crore in last year period. Sequentially they rose 5.4% from Rs 26,853 crore. Average revenue per user (ARPU) improved to Rs 153 in second quarter as against Rs 143 in the previous year period. Its customer base stood at about 48 crore across 16 countries.
While such strong performance and beating analysts estimates by a large margin most brokerages are optimistic about the company and have raised their price targets here what they have to say.
CLSA | Rating: Buy | Price target: Rs 860
Bharti Airtel’s Q2 consolidated revenue & EBITDA (Earnings Before Interest Tax Depreciation & Amortisation) on both QoQ as well as YoY basis and were ahead of estimates. The global brokerage firm forecasts a 15% consolidated EBITDA by FY24 and has increased the price target to Rs 860 from earlier Rs 810.
Jefferies | Rating: Buy | Price target: Rs 860
Bharti Airtel’s Q2 revenue and EBITDA were in-line while profit beat estimates. While ARPU missed estimates the subscriber mix improved a reflection of its network investments. Even the the home & enterprise segments surprised positively.
(Disclaimer: The recommendations in this story are by the respective research and brokerage firm. Money9 & its management do not bear any responsibility for their investment advice. Please consult your investment advisor before investing.)