Indian telecom giant, Bharti Airtel has declared its third quarter results. The company has posted 42 % surge in its net profit at Rs 1,722 crore for the quarter ended December 31, 2007 as compared to Rs 1,215 crore in the corresponding period last fiscal.

Total revenue of the company also grew by 41% to Rs 6,682.57 crore for the third quarter this fiscal from Rs 4,723.68 crore during the corresponding period previous year.

The company has posted above mentioned figures, on the back of a record addition to its subscriber base. The company added highest ever-net addition of 63.9 lakh customers in a single quarter.

The stock of the company closed today at Rs. 852 on BSE, up 0.22% compared with previous close of Rs. 850. Stock markets have been week for past two weeks. Foreign funds have been selling and stocks continued to suffer today. BSE sensex, NSE Nifty and MidCaps indices closed with huge losses.

Bharti Airtel looks good as a long term investment. Investors can buy the stock on declines with a target of Rs 1000 over next 12 months. If the stock markets correct further, Bharti may slip to Rs 700 very soon.