Bharti Infratel profit rises 62 pct to Rs 411 cr in Oct-Dec quarter

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Bharti Infratel is expected to benefit from a recent agreement between parent Airtel and Reliance Industries. Bharti Infratel is expected to benefit from a recent agreement between parent Airtel and Reliance Industries.
SummaryNet profit of Bharti Infratel, owned by Bharti Airtel, rises to Rs 4.11 billion.

billion rupees, according to data compiled by Thomson Reuters StarMine.

Tower operators, who get their revenue from leasing mobile phone masts to cellular carriers, are betting on growth in mobile data networks to boost demand for mobile phone masts. The industry lost some clients last year after a court order forced several carriers to shut down or scale back.

Bharti Infratel, which raised about $512 million in 2012 from an initial public offering, is also expected to benefit from a recent network sharing agreement between parent Bharti Airtel and conglomerate Reliance Industries.

Bharti Infratel expects carriers to expand 3G networks in coming quarters as they see growth in revenue from data, Managing Director Akhil Gupta said in a statement.

The company, which is yet to spend much of the money raised from the IPO and has invested it in mutual funds, said other income rose 45 percent to 917 million rupees. Finance costs were down by a fifth.

Shares in Bharti Infratel, valued at about $5 billion, were up about 1 percent by 0653 GMT, having risen as much as 3.7 percent after the results. BNP Paribas last week downgraded Bharti Infratel citing limited upside potential. ($1 = 61.8450 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Jeremy Laurence)

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