Bharti Infratel drops after declaring Q3 result

Bharti Infratel lost 1.93% to Rs 272.55 at 09:32 IST on BSE after declaring Q3 result after market hours yesterday, 23 January 2019.

Meanwhile, the S&P BSE Sensex was down 64.10 points or 0.18% at 36,044.37

On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 88,000 shares in the past two weeks. The stock had hit a high of Rs 284.20 and a low of Rs 266.70 so far during the day.

Bharti Infratel's consolidated net profit rose 10.76% to Rs 648.40 crore on 3.03% fall in total income to Rs 1977.20 crore in Q3 December 2018 over Q3 December 2017. Consolidated EBITDA in Q3 December 2018 was at Rs 1513 crore, representing an operating margin of 41.6%.

Akhil Gupta, Chairman, Bharti Infratel, said the consolidation and integration phase in Indian Telecom Industry along with exits of co-locations is largely over. The company is now looking at the next phase of network and related infrastructure rollouts by operators - first for 4G and subsequently for rapidly evolving 5G, to cater to ever growing demand for data.

Bharti Infratel is India's leading provider of tower and related infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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