Bharti Infratel Q3 profit falls 5.6% to Rs585 crore, misses estimates
Bengaluru: Mobile masts operator Bharti Infratel Ltd said on Wednesday its net profit fell 5.6% in the third quarter, missing analysts’ estimates, pulled down by higher expenses.
Profit came in at Rs585 crore ($91.57 million) in the quarter ended 31 December compared with Rs620 crore a year ago, the company said on Wednesday.
Analysts on average expected the company, which is majority owned by Bharti Enterprises, to post a profit of Rs710 crore, according to Thomson Reuters data.
Revenue from operations of the firm, which owns a stake in India’s biggest mobile tower company Indus Towers, rose nearly 11% to Rs1,697 crore.
Revenue related to the company’s joint venture with Indus grew 4.7% to Rs1,959 crore. Reuters