Bharti Airtel Shares Surge 2% on Strong Q3 Earnings

New Delhi, Feb 6 (PTI) Shares of Bharti Airtel on Tuesday ended over 2 per cent higher after the company posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter.

The stock jumped 3.78 per cent to Rs 1,155.95 during the day on the BSE. It ended at Rs 1,137.90, up 2.17 per cent.

At the NSE, shares of the company climbed 2 per cent to settle at Rs 1,135.90. During the day, the stock advanced 3.82 per cent to Rs 1,156.10.

In traded volume terms, 2.04 lakh shares of the company were traded at the BSE and over 98.63 65 lakh shares at the NSE during the day.

Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers.

The company had registered a profit of Rs 1,588.2 crore in the year-ago period, a regulatory filing said.

Despite devaluation of African currencies during the period, the consolidated revenue from operations during the third quarter of the ongoing fiscal grew 5.8 per cent to Rs 37,899.5 crore from Rs 35,804.4 crore in the year-ago period.

"Revenue from India business sustained its momentum and grew sequentially by 3 per cent, while consolidated revenue was impacted by the devaluation of the Nigerian Naira and Malawian Kwacha," Bharti Airtel Managing Director Gopal Vittal said in a statement.