of Bharti Airtel (Bharti Airtel) The shareholders have approved the proposal for re-appointment of Gopal Vittal as Managing Director of the company. Annual General Meeting of the Company held on 12th August (AGM) This information has been given in the information given to the respective stock exchanges. According to this, more than 97 percent votes of the shareholders were in favor of Vittal’s reappointment and it has been passed with the required majority.
The tenure will be five years
The company’s annual general meeting has also approved a special proposal regarding payment of salary to Vittal as managing director and chief executive officer. His new tenure will be for five years and will commence from 1 February 2023.
Vittal was appointed as Managing Director and CEO of Airtel for the first time on 1 February 2018. His current tenure was scheduled to end on 31 January 2023.
Let us tell you that in the April-June quarter of the current financial year 2022-23, the consolidated net profit of Bharti Airtel increased five times to Rs. 1,607 crore has been reached. Airtel gave this information to the stock markets on Monday. Earlier, in the same quarter of FY 2021-22, the company’s net profit was Rs 283.5 crore. The company’s consolidated operating income for the quarter ended June 2022 rose nearly 22 percent to Rs. 32,805 crore as compared to Rs. 26,854 crores.
Bharti Airtel’s mobile service revenue in the country increased by 27 percent to Rs. 18,220 crore as compared to Rs. 14,305.6 crores.
The country’s telecom giant Bharti Airtel has allotted more than 7.1 crore equity shares to internet giant Google at a price of Rs 734 per share. Airtel said in a filing to stock exchanges that the allotment is part of Google’s commitment to invest $1 billion in Airtel. This includes an equity investment of $70 crore (roughly Rs. 5,224 crore) in the company.
Airtel said that a special committee of directors meeting on preferential allotment of the company on July 14 approved the allotment of Rs 5 face value shares to Google International LLC at an issue price of Rs 734 per share.
. Source