Bharti Infratel Posts Highest Ever Net Profit In 5 Quarters

Bharti Infratel, India’s sole listed telecom tower company, has posted a consolidated net profit of Rs 648 crore in its Q3 ended 31 December, 2019. Compared to a year ago period, the firm has increased its profit by 11% when it posted a profit after tax of Rs 585 crore.

This is the tower company’s highest ever net profit in last five quarters. On a quarter over quarter basis Bharti Infratel’s Q3 net profit was increased by 8% from the September quarter when the company’s profit was Rs 599 crore. Its net profit for March and June quarter were Rs 606 crore and Rs 638 crore respectively.

The firm’s consolidated revenue for the December quarter remained at Rs 3640 crore compared to Rs 3653 crore a year back. In September quarter the company’s consolidated revenue was Rs 3668 crore.

Bharti Infratel’s consolidated financial data includes the financial data of Bharti Infratel standalone and Indus Tower’s standalone financial figures.

At the end of the quarter Bharti Infratel had a consolidated tower base of 92301 as against 91007 a year before. During the December quarter the firm had added 178 towers. However, over the year the firm lost 39027 co-location sites to have 1,74,449 such sites as against 2,13,476 a year ago. A co-location site a tower site where multiple operators put up their infrastructure on rent.

“The consolidation and integration phase in Indian telecom industry along with exits of co-locations is largely over,” Akhil Gupta, chairman at Bharti Infratel, said in the statement. “We are now looking at the next phase of network and related infrastructure roll outs by operators—first for 4G and subsequently for rapidly evolving 5G—to cater to ever growing demand for data.”

“These would require large investments, thereby presenting potential for sizeable growth for passive infrastructure companies going forward,” he added.

From a market share perspective Bharti Infratel commands almost 50% share in terms number of towers as well as co-location sites followed by BSNL and Reliance Infratel.

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