Bharti Infratel nears record high post Q4 results

The stock moved higher by 5% to Rs 397, just away from its record high of Rs 399 touched on the NSE in last month.

Shares of Bharti Infratel has risen by 5% at Rs 397, just away from its record high of Rs 399 touched on the NSE in last month, after the firm reported 18% year on year (yoy) growth in its consolidated net profit at Rs 558 crore for the fourth quarter ended March 31, 2015 (Q4), on back of strong operational performance. Revenues grew 6% at Rs 2,947 crore on yoy basis.

EBITDA or operating margin expanded by 350 bps to 45.1% in March 2015 quarter against 41.6% in March 2014 quarter, Bharti Infratel said in a statement.

The board of directors has proposed a final dividend of Rs 6.5 per equity share for the year ended March 31, 2015, this is in addition to the interim dividend of Rs 4.5 per share already paid during the ended September 30, 2014, it added.

The stock opened at Rs 375 and touched a low of Rs 372 on the NSE before the announcement of Q4 results. A combined 786,916 shares changed hands on the NSE and BSE so far.

At 1158 hours, the stock was up 4.6% at Rs 390 on the NSE.