Bharti Infratel reports 24% jump in profit to Rs 576 cr

Bharti Infratel today reported 24 per cent jump in net profit at Rs 576 crore for the quarter ended June 30.
It had reported net profit of Rs 463 crore in the April- June quarter of last financial year, the company said in a statement.
Revenue of the company rose 6 per cent to Rs 3,016 crore for the first quarter of 2015-16, as compared to Rs 2,843 crore in the year-ago period.
"India today is one of the fastest growing countries in terms of new Internet users. This opportunity can only be leveraged by rollout of quality networks and introduction of new technologies by telecom operators," Bharti Infratel Ltd Chairman Akhil Gupta said.

Large spectrum investments are already done and incremental investments in additional sites to effectively utilise the spectrum are relatively small, which would result into large number of deployments by operators, he added.
The company said its total tower base stood at 86,397 with an average sharing factor of 2.13.

Its consolidated EBITDA (earnings before interest, taxes, depreciation, and amortisation) or operating profit improved to Rs 1,302 crore, up 10 per cent year-on-year.
The company said it has approved the establishment of sponsored level 1 ADR programme in the United States. The ADRs can be traded on the US over-the-counter.
"Citi's issuer services business, acting through Citibank N.A., has been appointed as the depositary bank for this sponsored level 1 ADR programme," the statement said.

Shares of the company closed at Rs 457.05 apiece, up 1.75 per cent, on the BSE.