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Bharti Infratel Q1 net profit slips 12% to Rs 664 crore

The consolidated revenue of mobile tower arm of Bharti Airtel increased by 10 per cent to Rs 3,524 crore.

ET Bureau|
Jul 25, 2017, 12.06 AM IST
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MUMBAI: Bharti Infratel’s net profit dropped 12% in the first quarter of this fiscal, as its finance income shrank to half and costs, mainly on rent and fuel, rose.

The telecom tower company’s consolidated net profit for April-June came in at Rs 664 crore. Net finance income fell to Rs 62.7 crore from Rs 128.2 crore a year earlier.

Consolidated revenue rose 10% on a like-to-like basis to Rs 3,524 crore, the company said. Earnings before interest, tax, depreciation and amortisation for the first quarter rose 12% on year to Rs 1,575 crore. Bharti Infratel sees network rollouts for data coverage as the future propellers of growth.

“Indian telecom is moving towards a data-centric business model as the demand for data is growing exponentially with the nation decisively embracing the digital world. We continue to observe significant network rollouts for data coverage and we believe all operators will further accelerate their data network rollout plans to grab a share in the growing data market,” chairman Akhil Gupta said.

The company had a total tower base of 90,837, including its 42% stake in Indus Towers. In the first quarter, it added 7,795 co-locations, its highest since IPO for a quarter, taking the total count to 218,000-plus. Co-locations are locations where it has deployed the mobile telecommunications antennas of multiple service providers on a single structure.

Consolidated expenses for the quarter totalled Rs 1,948.9 crore, up 8% on year. The largest components of the expenses were power and fuel, amounting to Rs 1,204.4 crore. The other key expenses incurred were rent of Rs 311.1crore, repair and maintenance.

Bharti Infratel stock fell 0.2% to close at Rs 409.50 Monday on the BSE, where the benchmark rose 0.7%. The results were declared after market hours.
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