Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Bharti Airtel shares surge over 8% after quarterly results

Jul 31 2013, 15:57 IST
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Bharti Airtel shares surge over 8% after quarterly results				    Bharti Airtel shares surge over 8% after quarterly results
SummaryBharti's scrip zoomed 8.13 per cent to Rs 347.60 at the BSE.

Shares of telecom major Bharti Airtel today soared by over 8 per cent, even as the company reported a 9.6 per cent fall in net profit for the first quarter ended June 30, 2013.

Bharti's scrip zoomed 8.13 per cent to Rs 347.60 at the BSE. On the NSE, the stock shot-up by 8.37 per cent to Rs 348.

The scrip was the top gainer on both the key indices – Sensex and Nifty – during the morning trade.

Bharti Airtel today reported a 9.6 per cent fall in net profit at Rs 688.9 crore for the first quarter ended June 30, 2013.

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The company had reported a net profit of Rs 762.2 crore in the corresponding period last financial year.

This is a 14th consecutive fall in quarterly profits of the company.

Related: Bharti Airtel Q1 Net profit down 9.6 percent at Rs 688.9 crore

Total income of the company, however, was up 9.3 per cent at Rs 20,299.5 crore for the reported quarter as against Rs 18,570.3 crore in the same period last fiscal.

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"Our results for the quarter reflect the overall stability of our operations, and demonstrate the potential for growth, particularly seeing robust data growth across all geographies," company's Chairman Sunil Bharti Mittal said in a statement.

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