Tower company Bharti Infratel on Monday said it has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers with the aim of making it a subsidiary or wholly owned subsidiary.
At present, Bharti Infratel has 42 per cent stake in Indus Towers. The balance is with Vodafone India, Idea Cellular and Providence Equity Partners.
Bharti Infratel's net profit went down by 17 per cent for the July-September quarter of 2017-18, a company statement said on Monday.
The company has posted net profit of Rs 638 crore for the second quarter of 2017-18, compared to Rs 774 crore during the corresponding quarter a year back.
The company's revenue grew by 11 per cent during the quarter. It has clocked revenue of Rs 3,648 crore for the second quarter of 2017-18, up from Rs 3,292 crore posted during the same quarter a year back.
--IANS
ag/mr
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app