Millennium Post
Business

Bharti Infratel Q1 net towers over 67%

Bharti Infratel, the tower arm of telecom major Bharti Airtel, on Monday reported a 67.6 per cent jump in net profit at Rs 357.6 crore for the first quarter ended 30 June, 2013.

The company had reported a net profit of Rs 213.4 crore in the corresponding period last year.The total income of the company during the quarter under review stood at Rs 2,622 crore as against Rs 2,416.6 crore for the same period a year ago.

'We are pleased that our results demonstrate and reaffirm our robust business model, whereby despite relatively low capex deployment by operators in the current quarter, we had significant incremental financial gains from increased sharing of our infrastructure,' Bharti Infratel vice chairman and managing director Akhil Gupta said in a statement. The company's total tower base stands at 82,321 as on 30 June, 2013, while the average sharing factor or tenancy ratio is 1.91 during the same period.

The company's EBITDA for the reported quarter stood at Rs 1,055 crore as compared to Rs 886 crore during the same period last year. During the quarter, the Delhi High Court has sanctioned the merger of Bharti Infratel Ventures Ltd, its wholly-owned subsidiary with Indus Towers, effective 11 June, 2013, it added.With regulatory environment showing signs of settling down and focussed roll-out approach by new operators and indications of plans to roll out 4G during the year, the company expects deployment and infrastructure sharing to pick up in the coming quarters, Gupta said.
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