Wednesday, October 26, 2005

Bharti Tele-Ventures turns volatile


After an initial fall following the announcement of Q2 results, the stock
staged a rebound from the lower level.

The stock was down 1.5% to Rs 331.60 in early afternoon trade. It had firmed
up on the eve of the results announcement, gaining nearly 1% to Rs 340 in
mid-morning trade.

The stock recovered sharply from a low of Rs 323.65 hit soon after the
results were made known in early afternoon trade.

6.6 lakh shares changed hands in the counter on BSE.

Bharti Tele-Ventures' (BTL) consolidated net profit as per US accounting
standards jumped 43% to Rs 521 crore in Q2 September 2005 from Rs 364 crore
in Q2 September 2004. Analysts had forecast a net profit of around Rs 550
crore from the cellular services major.

Consolidated revenues as per US GAAP rose 46% to Rs 2,709 crore from Rs
1,851 crore, driven by strong subscription growth.

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