Bharti Infratel up 3.5 pc as Q4 net jumps

Shares of telecom tower firm Bharti Infratel ended 3.5 per cent higher today after the company reported a 19 per cent jump in net profit for the March quarter.
The stock rose 3.17 per cent to settle at Rs 375.35 on BSE. Intra-day, it gained 3.84 per cent to Rs 377.80.
On NSE, the scrip surged 3.48 per cent to close at Rs 375.70.
In terms of volume, 2.26 lakh shares of the company changed hands at BSE and over 55 lakh shares were traded at NSE during the day.
Bharti Infratel yesterday reported a 19 per cent jump in net profit at Rs 662 crore for the quarter to March on the back of growth in network rollout by operators.

The company had posted a net profit of Rs 558 crore in the same period of the previous fiscal.

Revenue also increased 7 per cent to Rs 3,162 crore for the reported period compared to Rs 2,947 crore last year.
The company also announced buyback of equity shares worth Rs 2,000 crore and proposed a dividend of Rs 3 per share.
"The total cash outgo for dividend and buyback inclusive of Rs 116 crore as tax on dividend will amount to Rs 2,685 crore," the company had said in a statement.
For entire 2015-16, the company reported a 20 per cent increase in net profit at Rs 2,382 crore as against Rs 1,992 crore a year earlier.