Telecom towers firm Bharti Infratel reported 17% year-on-year decline in its net profit at Rs. 638 crores in the fiscal second quarter, even as its revenue grew 11% to Rs 3,648 crore during the same period. The company's net finance income declined to Rs 10.9 crore, from Rs 247.2 crore a year earlier.
The company's consolidated EBITDA improved to Rs. 1,634 crore, up 12% on a yearly basis, representing an operating margin of 44.8%. Consolidated EBIT improved to Rs. 1,021 Crore up 15% on a yearly basis. The Operating Free Cash Flow grew by 31% on a yearly basis to Rs. 1,224 crore for the quarter.
Bharti Infratel said that its total tower base stood at 90,955, up from 90,837 in a year earlier period. The company's closing sharing factor stood at 2.42 times.
Akhil Gupta, Chairman, Bharti Infratel Limited said that leading operators have announced enhanced investment plans towards improvising digital infrastructure during the recently concluded India Mobile Congress. He added that the Government of India’s Smart Cities program presents additional opportunity to create infrastructure for sharing on a non-discriminatory basis. All of this is good for the sector at large.
"As Bharti Infratel and Indus Towers, we are well positioned to grab our fair share of the market and create sustainable value for all stakeholders. Indian telecom has embraced the data-centric model and is emerging as the showcase of digital technology with operators rolling out 4G networks and India planning a leadership role on upcoming 5G technology and associated applications," he added.
Bharti Infratel Limited on Monday said that its board of directors on Monday has decided to explore and evaluate acquisition of the stake in one or more tranches in Indus Towers Limited. The company said it aims to make Indus a subsidiary or wholly owned subsidiary of Bharti Infratel Limited, which already owns 42% in Indus Towers.
The company also revealed that its sharing revenue per tower per month stood at Rs. 83,040 while sharing revenue per sharing operator per month stood at Rs 34,427.
Bharti Infratel's total co-locations stood at 220,088, up from 218,401.
