Bharti Infratel profit rises 25% to Rs620 crore
Telecom tower company Bharti Infratel on Monday said net profit rose 25% to Rs620 crore for the December quarter from Rs495 crore a year ago. Revenue increased 10% to Rs3,401 crore during the quarter from Rs3,106 crore a year ago.
The company reported Ebitda (earnings before interest, taxes, depreciation and amortization) of Rs1,496 crore during the period. The sharing revenue per tower per month increased by 4.1%.
The company also claimed co-location additions, at 6,139, in the quarter were the highest in the past five years and reported a total tower base of 90,255.
“Indian telecom is witnessing strong data growth, led by the digitization wave across the country. Post large investments in spectrum, operators are focused on strengthening their network capacities and coverage, resulting in the highest ever addition of co-locations in this quarter,” said Akhil Gupta, chairman of Bharti Infratel.
“With deployment capabilities and strong balance sheet, Bharti Infratel is fully geared up to capitalize on this opportunity and partner the telecom operators in an even faster rollout of data networks,” he said.
Bharti Infratel facilitates tower and related infrastructure services for telecom companies and holds 42% equity interest in Indus Towers.
Bharti Airtel Ltd holds a 72% stake in Bharti Infratel. On 25 October, Bharti Airtel informed the stock exchanges about its board authorizing a committee of directors for evaluating the sale of stake in Bharti Infratel.
On Monday, shares of Bharti Infratel fell 1.6% to close at Rs347.55 on BSE, while the exchanges benchmark Sensex rose 0.31% to 27,117.34 points at the close.