Bharti Infratel Q2 net up 12%

Co reported revenue for the quarter at Rs 2,684 cr, up 5%

Telecom tower company Bharti Infratel, on Monday, reported a 12% rise in quarterly profit at Rs 277 crore on increase in sales from leasing mobile towers to service providers. In the corresponding quarter (July-September) last fiscal year, the company reported a profit of Rs 248 crore.

 

 

Bharti Infratel, which is majority owned by Bharti Airtel, reported revenue for the quarter at Rs 2,684 crore, a 5% increase as compared to Rs 2,556 crore for the same period last year, the company said in a statement.

 

“With regulatory environment in telecom sector showing signs of stabilizing and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters,” Bharti Infratel vice chairman and MD Akhil Gupta said.
 

Bharti Infratel’s business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure, he added. 

 

At the end of September 30, 2013, the company had 82,476 towers. The average tenancy increased to 1.93 during the quarter from 1.91 in the same period last year.

 

Bharti Infratel also has a 42% stake in Indus Towers, which has maximum number of telecom tower in the world.

 

Bharti Infratel was last traded for Rs 154.75 ( down 1.12%) on the Bombay Stock Exchange on Monday.