Bharti Infratel Q2 net up 31% at Rs777 crore
New Delhi: Bharti Infratel Ltd on Monday posted 31% increase in consolidated net profit at Rs776.6 crore for the September quarter of the current fiscal year. The mobile tower company had registered net profit of Rs591.3 crore in the same period of last fiscal.
“With the conclusion of recent spectrum auctions, the Indian telecom industry is gearing up for the next round of network roll-outs,” Bharti Infratel chairman Akhil Gupta said in a statement.
The telecom sector is already witnessing a big increase in demand for high speed data and availability of this additional spectrum will further spur investments from operators towards data roll-outs across the country, Gupta said. “Bharti Infratel is well poised to capitalise on this opportunity and to support telecom operators in rollout of 3G and 4G networks,” he said.
The income from operation of Bharti Infratel increased by 9% to Rs1,496.3 crore in the reported quarter from Rs 1372.6 crore in the same period a year ago. Shares of Bharti Infratel closed at Rs369.85 a piece, up by 2.03%, on BSE.