Bharti Airtel scrip up 5.5%; m-cap surges Rs 7,456 cr post results
Shares of Bharti Airtel on Wednesday ended 5.5 percent higher after it reported about 61 percent rise in consolidated net profit for the April-June quarter.
Mumbai: Shares of Bharti Airtel on Wednesday ended 5.5 percent higher after it reported about 61 percent rise in consolidated net profit for the April-June quarter.
The scrip of the country's largest mobile operator settled 5.26 percent higher at Rs 373 on the BSE. During the day, it surged 5.51 percent to Rs 373.90 - its 52-week high. Bharti Airtel was the best performer among the 30 Sensex blue-chips.
On the NSE, the stock went up by 5.47 percent to close the day at Rs 373.30.
Led by the rally, the company's market value soared Rs 7,456 crore at Rs 1,49,103.02 crore.
In terms of volumes, 7.11 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.
"Bharti Airtel gained more than 5 percent after posting healthy Q1, FY'15 numbers," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.
The company had yesterday reported a 60.9 percent rise in consolidated net profit for the first quarter of the current fiscal to Rs 1,108 crore on higher growth from mobile data business.
The Sunil Mittal-led company had reported a net profit of Rs 689 crore in the April-June quarter of the last fiscal.
The company's total revenue rose 13.3 percent to Rs 22,962 crore during Q1, 2014-15 as compared to Rs 20,264 crore in the corresponding period last fiscal.
"Consolidated mobile data revenues at Rs 2,204 crore grew 73.9 percent year-on-year, consistently contributing more than one-third of the incremental revenues," the company had said.