Bharti Infratel gains on strong Q3 results

Bharti Infratel rose 0.37% to Rs 376.95 at 12:45 IST on BSE after company's consolidated net profit rose 23.48% to Rs 506.90 crore on 8.77% rise in total income to Rs 3070.40 crore in Q3 December 2014 over Q3 December 2013.

The company announced Q3 result after market hours yesterday, 3 February 2015.

Meanwhile, the BSE Sensex was down 28.74 points, or 0.1%, to 28,971.40.

On BSE, so far 44,213 shares were traded in the counter, compared with an average volume of 74,614 shares in the past one quarter.

The stock of large-cap telecom infra company hit a high of Rs 384.95 and a low of Rs 375.65 so far during the day. The stock hit a record high of Rs 387 on 30 January 2015. The stock hit a 52-week low of Rs 161.10 on 17 February 2014.

Bharti Infratel's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) improved 13% to Rs 1276 crore in Q3 December 2014 over Q3 December 2013, representing an operating margin of 43.3%. Consolidated EBIT rose 19% to Rs 717 crore in Q3 December 2014 over Q3 December 2013. Total towers rose to 85,064 in Q3 December 2014 from 82,813 in Q3 December 2014. Co-location additions rose 33% to 4,478 in Q3 December 2014 over Q3 December 2013.

Akhil Gupta, Chairman, Bharti Infratel, said Telecom sector in India is witnessing a rapidly growing demand for data and high speed internet access. The operators have already invested significant amounts for data spectrum and are likely to increase it further in forthcoming auctions. Encouraged by surging demand for data across the country and to monetize this significant investment, the operators have already stepped up the rollout of the data networks. We expect this to further accelerate in the ensuing years. We continue to be the preferred infrastructure partners for telecom operators in India and fully geared to serve their rapidly increasing requirements of rollout.

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