Bharti Airtel's tower business unit Bharti Infratel Ltd today reported a 12 per cent jump in its net profit at Rs 277 crore for the quarter ended September 30, 2013, on the back of incremental gains from increased sharing of infrastructure.
Bharti Infratel Ltd had reported a net profit of Rs 248 crore in the corresponding period last fiscal, the company said in a statement.
Bharti Infratel Ltd revenue of the tower firm also rose 5 per cent to Rs 2,684 crore for the reported period as compared to Rs 2,556 crore for the same period last year, it added.
"With regulatory environment in telecom sector showing signs of stabilising and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters," Bharti Infratel Ltd Vice Chairman and MD Akhil Gupta said.
He added the company's business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure.
The total tower base of Bharti Infratel Ltd stood at 82,476 as on September 30, 2013, while the average sharing factor increased to 1.93 from 1.91 in the same period last year.
India's Bharti Infratel Q2 net rises 12 pct
(Reuters) Telecommunications tower operator Bharti Infratel Ltd reported on Monday a 12 per cent rise in quarterly profit on higher sales from leasing mobile masts to carriers.
Bharti Infratel, majority owned by India's top telecommunications carrier Bharti Airtel, said consolidated net profit rose to 2.77 billion rupees for its fiscal second quarter ended September 30 from 2.48 billion rupees reported a year earlier.
Revenue rose five percent from a year earlier to 26.84 billion rupees, the New Delhi-based company said.
Four analysts on average expected the company to report a profit of 3.54 billion rupees, while the average revenue estimate of five analysts was 27.16 billion rupees, according to Thomson Reuters StarMine.
Bharti Infratel, which raised $750 million in December in what was India's biggest IPO in two years, owns 42 percent of Indus Towers, the world's biggest tower company by