Bharti Infra 'towers' ahead

Bharti Infratel is the big gainer on the BSE in the morning trades, on the back of very robust Q1FY14 numbers. The stock is up almost 3.5% in the early trades, opening at Rs.148.35 and hitting an intra day high at Rs.151.90.

The company yesterday announced a smart 68% jump in net profit at Rs.358 crore. Two factors directly helped boost these numbers – one is the the increased sharing on its tower sites, its main core business. Second – one time gain through through merger with Indus Towers. In this quarter, Delhi High Court approved merger of Bharti Infratel with its wholly-owned subsidiary with Indus Towers, effective June 11, 2013. This merger added Rs.35 crore to the net profit though revenue from operations of Indus was lower by 50% during the quarter.