Bharti Infratel Q4 profit at Rs 6 bn, misses estimates on drop in tenancies

Indian telecom tower company Bharti Infratel Ltd on Monday posted a 1.6 per cent rise in fourth-quarter profit, but missed analysts' estimate, hurt by loss in tenancies as mobile carriers in the country either shut down or consolidated their operations.

The company's profit came in at Rs 6.06 billion ($91.24 million) in the quarter ended March 31, compared with Rs 5.97 billion a year earlier, the company said.

Analysts on average expected the company to post a profit of Rs 6.87 billion, Thomson Reuters data showed.

The company lost 22,134 co-locations during the year, Bharti Infratel added.