Bharti Infratel’s Q3 Profit Declines, Missing Analyst Estimates
Bharti Infratel Ltd.’s profit declined in the December ended quarter, falling short of analyst estimates.
Net profit declined 6 percent on to Rs 585 crore on a year-on-year basis, the company said in an exchange filing. That’s lower than the Bloomberg consensus estimate of Rs 707 crore. The telecom tower company’s revenue rose 7 percent to Rs 3,655 crore over the same quarter last year, in line with the consensus of analyst estimates tracked by Bloomberg.
Earnings before interest, tax, depreciation and amortisation rose 8 percent to Rs 1,613 crore, while the operating margin expanded 10 basis points to 44.1 percent.
Bharti Infratel Chairman Akhil Gupta expects the long-term impact of the ongoing consolidation in the sector to be positive due to “expected accelerated step-up of nationwide 4G rollouts by remaining operators.”
Shares of the company closed 0.26 percent higher on BSE to Rs 368 prior to the announcement of results.