Telecom tower infrastructure provider Bharti Infratel on Monday reported an 18% increase in net profit to Rs 558 crore for the March quarter on the back of an increase in the company’s tower tenancies.
Consolidated revenue rose 6% to Rs 2,947 crore compared with Rs 2,790 crore last year.
During the quarter, Bharti Infratel had a total tower base of 85,892 towers with a tenancy ratio of 2.11. On a yearly basis, net profit increased 31% to Rs 1,992 crore for the year ended March 31 while revenue was up 8%to Rs 11,668 crore from the previous fiscal.
“The recently concluded spectrum auction was a significant event for the telecom industry with leading operators renewing as well as acquiring spectrum for the next 20 years…The growth in data uptake and the need to monetise this investment at the earliest has already led to a step-up in the roll-out of data networks,” Bharti Infratel’s chairman Akhil Gupta said in a statement.
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