Bharti Infratel's fourth quarter net up 64 percent

Telecom tower provider Bharti Infratel's net profit for the fourth quarter (January-March) of 2013-14 jumped by 64 percent, a company statement said here Thursday.

The company posted net profit of Rs.472 crore during the fourth quarter of 2013-14 compared to Rs.287 crore it posted during the corresponding period in 2012-13.

The revenue of the company increased by 4 percent. The company clocked Rs.2,790 crore revenue during the fourth quarter of 2013-14 compared to Rs.2,674 crore during corresponding period 2012-13.

"The regulatory environment in telecom sector has improved significantly post the spectrum auctions conducted in February 2014. Operators have made large investments, primarily for data networks using 3G and 4G (LTE) technologies.

"We believe that faster roll out of networks will happen over coming years in order to monetize these investments. The telecom industry is entering a new phase and data proliferation will be the key driver for tower and co-location demand in future," Akhil Gupta, chairman, Bharti Infratel Limited said.