Bharti Infratel drops after weak Q3 results

Bharti Infratel was down 2.29% to Rs 358 at 9:20 IST on BSE after consolidated net profit fell 6% to Rs 585 crore on 7% increase in revenue to Rs 3655 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 17 January 2018.

Meanwhile, the S&P BSE Sensex was up 294.71 points or 0.84% at 35,376.53.

On the BSE, 8,838 shares were traded on the counter so far as against the average daily volumes of 1.01 lakh shares in the past two weeks. The stock had hit a high of Rs 364.35 and a low of Rs 355.35 so far during the day. The stock had hit a 52-week high of Rs 481.90 on 17 October 2017 and a 52-week low of Rs 283.10 on 28 February 2017.

 

Akhil Gupta, Chairman, Bharti Infratel, said that the overall long-term outlook for the telecom industry would be positive due to expected accelerated step-up of nationwide 4G rollouts by operators. With Infratel's reach, financial strength and operational expertise, the company is in the best position to capture what it believes is a big potential for the industry based on exciting data-based demand.

Bharti Infratel is a provider of tower and related infrastructure sharing services.

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