Bharti Infratel gains after strong Q4 results

Bharti Infratel rose 3.34% at Rs 375.95 at 9:26 IST on BSE after consolidated net profit rose 19% to Rs 661.70 crore on 7% growth in revenue to Rs 3161.90 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 26 April 2016.

Meanwhile, the S&P BSE Sensex was up 4.49 points or 0.02% at 26,011.79.

On BSE, so far 72,000 shares were traded in the counter as against average daily volume of 76,000 shares in the past two weeks. The stock hit a high of Rs 377.15 and a low of Rs 371.75 so far during the day. The stock had hit a record high of Rs 505 on 29 May 2015. The stock had hit a 52-week low of Rs 341.60 on 29 September 2015.

The large-cap company has equity capital of Rs 1896.67 crore. Face value per share is Rs 10.

Bharti Infratel's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 9% to Rs 1443.90 crore in Q4 March 2016 over Q4 March 2015. EBITDA margin edged higher to 45.7% in Q4 March 2016, from 45.1% in Q4 March 2015.

Bharti Infratel's board of directors at its meeting held yesterday, 26 April 2016, considered and approved the proposal to buyback equity shares of the company on a proportionate basis through a tender offer. The buyback shall be up to an aggregate amount not exceeding Rs 2000 crore at a maximum price of Rs 450 per share. At maximum buyback price, the buyback translates into approximately 4.44 crore equity shares of the company, representing 2.34% of the total paid up equity share capital of the company.

Bharti Infratel is India's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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