Bharti Airtel settles up over 2% post Q4 results

MUMBAI: Shares of Bharti Airtel on Wednesday closed higher by over 2 per cent even as the country's largest telecom company reported 28.19 per cent dip in net profit for the last quarter of 2011-12.

Shrugging-off the sluggish numbers, shares of the operator closed at Rs 317.95, up 2.47 per cent on the BSE. During the day, the stock climbed 3 per cent to Rs 319.90. At the NSE, shares settled at Rs 318.30, up 2.51 per cent.

"Telecom stocks, including Bharti Airtel, have seen sharp correction in comparison to the benchmark index over the last month. So, the dismal results were factored in today's trade," Ashika Stock Brokers Research Head Paras Bothra said.

Bharti Airtel today reported 28.19 per cent dip in net profit at Rs 1,006 crore for the fourth quarter -- its ninth straight quarterly drop in earnings. During January-March, 2010-11, the company had reported net profit of Rs 1,401 crore.

However, it saw 15 per cent jump in revenues at Rs 18,729 crore for the fourth quarter, 2011-12, compared to Rs 16,293 crore in the year-ago period.