Bharti Airtel shares gain on 3G services price hike hopes

Share price of Bharti Airtel jumped 1.25 per cent to 429.50 on Tuesday on hopes of rise in price of 3G services in more circles.

Starting with Delhi, the company have extended 3G price increase to western Uttar Pradesh and Haryana, according to Credit Suisse.

The company has already increased 3G charges by over 18 per cent for 1GB plans whereas 2G is dearer by over 13 per cent. Bharti Airtel has increased the price for 1GB of 3G data to Rs 299 with a validity of 28 days against earlier price of Rs 255. For 2G plan, the telecom operator is now offering 1GB of data for Rs 199 with 28 days validity which used to cost Rs 176 earlier.

For the quarter ended March 2015, the company registered net profit of Rs 3824 crore, up 85 per cent against Rs 2059.90 crore in the corresponding quarter a year ago. Revenue of the company jumped 10.47 per cent year-on-year to Rs 14,292.10 crore at the end of March 2015.

(With inputs from Reuters)