Bharti Infratel FY18 Revenue Up 8%, Profit Dip By 9%

Bharti Airtel’s independent tower arm Bharti Infratel Monday announced its financial results for the fourth quarter as well as for the full year ended March 31, 2018. On year or year basis, the firm, India’s only listed tower company, saw its revenue grew by 8% but its net profit was down by 9%.

The firm reported consolidated revenues of Rs. 14,490 crore in FY17-18 as against Rs 13,424 crore in the previous year, showing a growth of 8%. Consolidated EBITDA of the firm improved to Rs. 6,427 crore up 8% Y-o-Y, representing an operating margin of 44.4%. Consolidated EBIT improved to Rs. 4,034 crore up 11% Y-o-Y. The Operating Free Cash Flow grew by 13% Y-o-Y to Rs. 4,202 Crore for the year.

Bharti Infratel, however, posted a dip in its net profit during the year. The company’s net profit for the year FY2017-18 was Rs 2494 crore as against Rs 2747 crore in the previosu fiscal showing a dip of 9%.

“Due to loss of 22,134 co-locations during the year on account of five operators ceasing to continue either on account of shutting down operations or merging with others, the financial results for the quarter showed lower growth rates,” the company said in a statement.

On quarterly basis, the firm reported revenues of Rs 3662 crore for the period 31 March, 2018, an increase of 4% than the previous quarter when it reported frevenues of Rs 3520 crore. The net profit saw an increase of 2% to clock Rs 606 in the quarter as against Rs 597 crore in the December quarter.

“The year gone by saw unprecedented consolidation in the Indian telecom industry with five operators ceasing to exist either on account of mergers or outright shut down of operations. Our Company saw loss of 22,134 co-locations on this account during the year. However, despite this the overall performance for the year vs. last year has been robust which bears testimony to a sound business model and our leadership position. We believe that with rapidly growing data demand which would require large network rollouts, we are poised for a strong potential in the coming years. We are fully prepared to exploit this and meet all requirements of our customers for speedy rollouts,” said Akhil Gupta, Chairman, Bharti Infratel.

The company also announced dividend of Rs 14 per equity share for the year ended March 2018,

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