Shares of Bharti Airtel surged over 4 per cent in the morning trade on the Bombay Stock Exchange after the company reported 22 per cent growth in June quarter net profit. After opening firm on the exchange,shares of Bharti Airtel rose 4.03 per cent to Rs 856. Similar movement was witnessed on the National Stock Exchange,where the scrip surged nearly six per cent to a high of Rs 870. On the volume front nearly nine lakh shares changed hands on both the bourses in the first few minutes of trade. Sunil Mittal-led Bharti Airtel reported 22.21 per cent rise in net profit at Rs 2,647.95 crore for the first quarter ended June 30,2009. "With better-than-expected figures for the June quarter,investors are likely to gain confidence in the company and the scrip is likely to do good in near term," SMC Global Vice President Rajesh Jain said. Total income for the June quarter stood at Rs 10,429.94 crore,up 23 per cent over the year-ago period,as per Indian accounting rules. The scrip was later quoting at Rs 843.40,up 2.50 per cent on the BSE and with a gain of 2.31 per cent at Rs 842 on the NSE.
