Bharti Infratel quarterly profit beats estimates

(Reuters) - Indian telecom tower company Bharti Infratel Ltd reported a 10.8 percent rise in third-quarter profit on Wednesday, beating market estimates.

Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said.

Analysts on average had expected a profit of 5.59 billion rupees, Refinitiv Eikon data showed.

The company, majority owned by telecoms carrier Bharti Airtel Ltd, merged its operations with Indus Towers last year amid a vicious price war in the world's second-biggest market by mobile phone users.

Revenue from operations grew 2.2 percent to 17.33 billion rupees.

 

($1 = 71.2840 Indian rupees)

(Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)