Bharti Infratel profit rises 68%

Written by fe Bureau | Mumbai | Updated: Oct 28 2014, 08:07am hrs
Leading telecom tower infrastructures provider Bharti Infratel on Monday reported a slight increase in its consolidated net profit from the previous quarter on the back of higher revenue earned by the company in the recently concluded quarter.

The recent performance of the company has been driven by decent tower additions made by the company during the quarter which are expected to drive sequential improvement in revenue and margins and higher tenancy ratio.

The Sunil Bharti Mittal-controlled company reported a 3% increase in its consolidated revenue for the September quarter that stood at R2930.10 crore. Profits for the same quarter stood at R465.20 crore, up from R462.80 crore in the previous quarter.

On an annual basis, the company's consolidated revenues were up 9% while its consolidated profits (profit after tax) were up by 67%.

The consolidated results published by the company, as per the Indian GAAP standards, include the financial performances of Bharti Infratel, and Indus Towers, which is a joint venture owned by Vodafone Group, Bharti Infratel and Aditya Birla Group.

On a standalone basis, the company posted a net profit of R527.20 crore for the September quarter as compared to R148.30 crore in the same quarter of the previous year. The company's total income rose to R1717.50 crore in the recently concluded quarter, up from R1259.40 crore reported in the same quarter of the previous year. Bharti Infratel's stock closed at R290.30 a piece on the BSE on Monday, down 2.78% from the previous day. The Sensex closed at 26752.90, down 0.37%.