Bharti Infratel Q3 net up 31 per cent to Rs 254 crore
With data growing at a fast pace, the company expects increased deployment of new networks by operators in the coming year, Akhil Gupta added.
The tower company has 1.9 tenants per tower of which invariably one is Bharti Airtel. The company that declared its first result since a public listing in December reported October-December net profit at 254 crore from 194 crore registered in the same quarter last fiscal, Bharti Infratel said.
The company reported per operator per tower rental at Rs 35,022 each month compared with Rs 34,792 in the year-ago period. The company said in a response to ET the increase rate was due to the additional loading charge for 3G-cum-2G access points.
On a call with investors it said Bharti Infratel plans to raise its debt levels to two times operating profit (earnings before interest, tax, depreciation, and amortisation). The use of the additional funds may be used for acquisitions, growth or return capital to shareholders. The company has surplus cash from its initial public offer (IPO).
The company said it has no acquisitions lined up at the moment. Bharti Airtel has plans to separate its towers in Africa into a separate company, but Bharti Infratel said it was in no talks for such an acquisition.
However, an analyst who cannot be quoted, said the increase of 3G, or third generation, access points will not greatly benefit the telecom tower company.