Bharti Infratel slips post Q3 results

Operating free cash flow declined by 2% yoy to Rs 549 crore from Rs 562 crore mainly on account of higher capex.

Bharti Infratel has slipped 4% to Rs 202, its sharpest fall since listing, despite reporting a 31% year-on-year (yoy) jump in its net profit at Rs 254 crore for the third quarter ended December 31, 2012 (Q3) against Rs 194 crore in a year ago quarter.

Bharti Infratel, the tower arm of Bharti Airtel, said that its total operational revenues grew 8% to Rs 2,626 crore for the reported quarter as compared to Rs 2,424 crore in the year-ago period.

Meanwhile, the company said that its operating free cash flow declined by 2% yoy to Rs 549 crore from Rs 562 crore over the previous year quarter mainly on account of higher capex during the quarter.

 

Last month, Bharti Infratel mobilized about Rs 4,200 crore via an initial public offering (IPO) to install new towers and upgrade and replace existing ones. The company had sold its shares in the IPO at Rs 220 per share, got listed on December 28, 2012.

The stock opened at Rs 210 and hit a low of Rs 201 on NSE. A combined 409,259 shares have changed hands on the counter so far on both the exchanges.