Shares of Tata Communications jumped over 5 per cent today, adding Rs 1,026.55 crore to its market valuation, after the company posted an over 12-fold jump in December quarter net profit.
The stock soared 5.35 per cent to end at Rs 708.30 on BSE. Intra-day, it jumped 6 per cent to Rs 713 -- its 52-week high.
At NSE, shares of the company surged 5.34 per cent to close at Rs 708.90.
Led by the gain, the company's market valuation rose by Rs 1,026.55 crore to Rs 20,186.55 crore.
Telecom firm Tata Communications yesterday posted an over 12-fold jump in its December quarter net profit at Rs 1,412.88 crore on account of realisation from sale of its data centre.
The company had posted a net profit of Rs 110.74 crore in the same period a year ago.
"Consolidated PAT (profit after tax) stood at Rs 1,413 crore. Contribution from an exceptional one-time gain from the stake sale of the India Data Centre (Rs 2,138 crore) was offset by the impairment (Rs 250 crore) on account of the South African subsidiary," Tata Communications said in a statement.
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