Mumbai: Indian telecom tower firm Bharti Infratel Ltd posted a 17% drop in consolidated net profit for the March quarter, missing analysts’ estimate, hurt by higher expenses.
Consolidated net profit came in at Rs597 crore ($92.83 million) in the quarter ended 31 March, compared with Rs718 crore a year earlier, the company said in a statement on Monday.
Analysts on average had expected a consolidated net profit of Rs6.99 billion, according to Thomson Reuters data.
Consolidated expenses rose about 8.5% to Rs11.33 billion. Reuters