MUMBAI, Apr 27: Shares of telecom tower firm Bharti Infratel today rose by nearly 4 per cent after the company reported a 19 per cent jump in net profit for the quarter ended March 2016.
The stock climbed 3.66 per cent to Rs 377.15 on BSE.
On NSE, it gained 3.73 per cent to Rs 376.60.
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 reported a net profit of Rs 558 crore in the same period of the previous fiscal.
Revenue of the company also increased 7 per cent to Rs 3,162 crore for the reported period compared with 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 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. (PTI)
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