Mumbai: Shares of Bharti Airtel's tower unit Bharti Infratel Monday surged 6 percent after the company reported 18 percent jump in consolidated net profit for the quarter ended March 31.
After rising 7.19 percent to Rs 400 -- its 52-week high in intra-day trade, shares of Bharti Infratel finally ended at Rs 395.40, up 5.96 percent on the BSE.
On the NSE, shares of the company closed 5.96 percent higher at Rs 395.55.
Led by the rise in the stock, the company's market value went up by Rs 4,213.64 crore to Rs 74,879.64 crore.
Bharti Airtel's tower unit Bharti Infratel today reported 18 percent jump in its consolidated net profit at Rs 558 crore for the quarter ended March 31.
The company had reported a net profit of Rs 472 crore in the corresponding period last fiscal year.
Consolidated revenue of the tower firm rose 6 percent to Rs 2,947 crore for the reported period compared with Rs 2,790 crore last year.
For the year ended March 31, the company's net profit increased 31 percent to Rs 1,992 crore, while its revenue was up 8 percent to Rs 11,668 crore from the previous fiscal.
In the stock market, the BSE benchmark Sensex ended at 27,176.99, down 260.95 points or 0.95 percent.
