Bharti Infratel Q4 net profit at Rs 650 cr; co extends Indus Towers merger deadline by 2 months

Telecom infrastructure firm Bharti Infratel on Thursday reported a 7 per cent increase in consolidated net profit for the March quarter at Rs 650 crore.

It also extended the deadline for merger with Indus Towers by two more months to June 24.

The consolidated revenues for Q4 FY20 came in marginally higher at Rs 3,624 crore, according to a company statement.

Bharti Infratel said it "believes that thus far, there is no significant impact of COVID-19 pandemic on the financial position and performance of the company."
Commenting on the earnings scorecard, Akhil Gupta, chairman, Bharti Infratel said, "After a few tumultuous years, the Indian Telecom industry took much needed constructive measures in the year gone by in the form of tariff increases. This along with encouraging trends on overall wireless data consumption has led to enhanced focus on improving the quality of networks."
On COVID-19 and its impact, the company said, "The passive infrastructure as well as active telecom operations of the company's customers are covered under essential services which are actively engaged in fulfilling the surge in demand arising out of the choice exercised by almost all industries to conduct their operations remotely. Hence, the telecom industry is among the businesses that are least impacted due to COVID-19."