Bharti Infratel's Q4 consolidated net profit declines by 17%

Telecom towers and communication structures provider Bharti Infratel on Monday reported a decline of 17 per cent in its consolidated net profit for the fourth quarter (Q4) of 2016-17.

According to the company, its net profit for Q4 decreased to Rs 597 crore from Rs 718 crore reported for the corresponding period of 2015-16.

However, the firm's revenue increased by 11 per cent during the quarter under review to Rs 3,520 crore from Rs 3,182 crore under during Q4 of 2015-16.

Besides, the company reported a surge of 22 per cent in its consolidated net profit for the full financial year 2016-17 to Rs 2,747 crore from Rs 2,247 crore in 2015-16.

The Bharti Infratel's consolidated revenue for the last fiscal grew by nine per cent to Rs 13,424 crore from Rs 12,331 crore in 2015-16.

"Indian telecom is undergoing a tectonic shift with consolidation settling in and business model shifting from voice to data centric one," said Akhil Gupta, Chairman, Bharti Infratel.

"We are already seeing significant network rollouts to have data coverage and it is our belief that all operators going forward will further accelerate the data network rollouts to have deep coverage to match competition."

The company's Board of Directors has proposed a final dividend of Rs 4 per equity share for the year ended March 2017, subject to shareholders' approval.

--IANS

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