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Bharti Airtel scrip up 5.5%; m-cap surges Rs 7,456 cr post results

Jul 30 2014, 18:42 IST
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Shares of Bharti Airtel ended 5.5 pct higher after it reported about 61 pct rise in consolidated net profit for the April-June quarter. Reuters Shares of Bharti Airtel ended 5.5 pct higher after it reported about 61 pct rise in consolidated net profit for the April-June quarter. Reuters
SummaryBharti Airtel was the best performer among the 30 Sensex blue-chips.

Shares of Bharti Airtel today ended 5.5 per cent higher after it reported about 61 per cent rise in consolidated net profit for the April-June quarter.

The scrip of the country's largest mobile operator settled 5.26 per cent higher at Rs 373 on the BSE. During the day, it surged 5.51 per cent 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 per cent 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 per cent after posting healthy Q1, FY'15 numbers," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

The company had yesterday reported a 60.9 per cent 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 per cent 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 per cent year-on-year, consistently contributing more than one-third of the incremental revenues," the company had said.

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