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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Bharti Infratel, the tower company under Bharti Airtel, has seen a substantial net profit growth in the first quarter of the current fiscal year. This growth in net profit has been driven majorly by the rise in its co-locations on its telecom sites. As per the ET Telecom report on this matter, this trend for Bharti Infratel is expected to continue as the big phone companies will remain focused on network rollouts especially considering the fact that a lot of them have recently raised huge amounts of funds. Bharti Infratel, which is the only listed telecom tower firm in India, reported a net profit of Rs 887 crore in the April-June quarter thus translating into a 39% on-year jump over last year.
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Company Finally Sees Net Addition in Co-Locations
The net profit of the company was as much as 46% higher sequentially and up from Rs 608 crore, which was the number in March quarter FY19. In its statement on Wednesday, the company also revealed that its quarterly consolidated revenue, in turn, rose 1% on-year to Rs 3,712 crore.
About the quarterly report, Bharti Infratel chairman, Akhil Gupta remarked, “After negative trend in net co-locations for the last six quarters due to consolidation in the telecom industry, we had net additions in co-locations this quarter.” It is worth noting that co-locations are points where tower company deploys mobile telecom antennae of multiple telecom companies at the same location. The top executives in the industry believe that this trend would continue as after the consolidation period, the operators are raising a significant amount of funds which would then be used for wide network rollouts to increase capacity and coverage.
