New Delhi, Mumbai, July 23: Sunil Mittal-led Bharti Airtel on Thursday reported 22.21 percent rise in net profit at Rs 2,647.95 crore for the first quarter ended June 30, 2009.
The private sector telecom operator recorded net profit after minority interest of Rs 2,166.68 crore in the June quarter of last fiscal, Bharti Airtel said in a filing to the Bombay Stock Exchange.
Total income rose 22.62 percent to Rs 10,429.94 crore during the June quarter, from Rs 8,506 crore in the corresponding period a year-ago, as per Indian accounting rules.
Shares of Bharti Airtel on Thursday surged over four percent in the morning trade on the Bombay Stock Exchange after the company reported 22 percent growth in June quarter net profit.
After opening firm on the exchange, shares of Bharti Airtel rose 4.03 percent to Rs 856.
Similar movement was witnessed on the National Stock Exchange, where the scrip surged nearly six percent to a high of Rs 870.
On the volume front nearly nine lakh shares changed hands on both the bourses in the first few minutes of trade.
“With better-than-expected figures for the June quarter, investors are likely to gain confidence in the company and the scrip is likely to do good in near term,” SMC Global Vice President Rajesh Jain said.
The scrip was later quoting at Rs 843.40, up 2.50 percent on the BSE and with a gain of 2.31 percent at Rs 842 on the NSE.
—-Agencies