Bharti Infratel records Q3 PBT at Rs 1,068 crore; total income slips 4.2%

The company's profit after tax jumped 23% for the December quarter to Rs 798.7 crore. Its net profit stood at Rs 648.4 crore in the year-ago period

Bharti Infratel on Thursday reported profit before tax (PBT) of Rs 1,068.8 crore for the quarter ended December 2019. It had posted PBT of Rs 1,037.5 crore in December 2018.

The company’s profit after tax (PAT) jumped 23 per cent for the December quarter to Rs 798.7 crore. Its net profit stood at Rs 648.4 crore in the year-ago period.

The total income of the company slipped 4.2 per cent to Rs 1,684.5 crore, although after incorporating its share of revenue from Indus Towers, Bharti Infratel showed a 1 per cent year-on-year rise in its segment revenue to Rs 3,673 crore for the reported quarter.

The company, in a regulatory filing, noted the recent $3-billion fundraising by Bharti Airtel had eliminated uncertainty about the ability of the parent firm to comply with the Supreme Court judgment on statutory dues.

However, it also cautioned that loss of a significant number of customers or failure to attract new business could have an adverse effect on the company. Bharti Infratel is in the process of merging with Indus Towers and is awaiting clearance from the Department of Telecom.

Bharti Infratel Chairman Akhil Gupta said the company witnessed another quarter of improved net additions on both towers and co-locations during the quarter ended December 31, with net tower additions being the highest in four years on a quarterly basis.