Bharti Infratel gains after robust Q1 profit

Consolidated net profit at Rs 756 crore for June quarter was up 71% compared with Rs 442 crore in the same quarter last fiscal

Shares of Bharti Infratel were up nearly 5% at Rs 380 on the Bombay Stock Exchange after the company reported 71% growth in consolidated net profit at Rs 756 crore for the first quarter ended June 30, 2016 compared with Rs 442 crore in the same quarter last fiscal.

Total income for the quarter was up nearly 6% to Rs 1,453 crore for the quarter under review compared with Rs 1372 crore for the quarter ended June 30, 2015.

Further, the board at its meeting held on July 26 proposed a dividend of Rs 3 per equity shares for the year ended March 31, 2016.

The stock opened at Rs 365 and touched a high of Rs 381. At 10:55am, over 740,000 shares were traded on both the stock exchanges.