Millennium Post

Bharti Infratel Q4 net profit up 2% to Rs 606 cr

New Delhi: Mobile tower firm Bharti Infratel on Monday posted a 2 per cent rise in consolidated net profit at Rs 606 crore for the fourth quarter ended March 2018, impacted by some telecom operators closing or merging their businesses.
The company's net profit for the January-March period of the previous 2016-17 fiscal stood at Rs 597 crore.
The revenue of the company for the fourth quarter of 2017-18 was Rs 3,662 crore, 4 per cent higher over the year-ago period.
"The year gone by saw unprecedented consolidation in the Indian telecom industry with five operators ceasing to exist either on account of mergers or outright shut down of operations," Akhil Gupta, chairman, Bharti Infratel Limited, said in a statement on Monday.
He added that the company saw a loss of 22,134 co-locations on this account during the year.
"...despite this, the overall performance for the year versus last year has been robust...We believe that with rapidly growing data demand which would require large network rollouts, we are poised for a strong potential in the coming years," he pointed out.
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