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Last Updated : Apr 27, 2016 12:28 PM IST | Source: PTI

Bharti Infratel up nearly 4% as Q4 net jumps

Bharti Infratel on Tuesday reported a 19 percent jump in net profit at Rs 662 crore for the quarter to March on the back of growth in network rollout by operators.

 
 
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Shares of telecom tower firm Bharti Infratel today rose by nearly 4 percent after the company reported a 19 percent jump in net profit for the quarter ended March 2016.


The stock climbed 3.66 percent to Rs 377.15 on BSE.


On NSE, it gained 3.73 percent to Rs 376.60.

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Bharti Infratel on Tuesday reported a 19 percent 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 percent 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 percent increase in net profit at Rs 2,382 crore as against Rs 1,992 crore a year earlier.



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First Published on Apr 27, 2016 11:12 am
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