Bharti Infratel Revenue For Q4 Down 2%, Full Year Up 1%

Bharti Airtel’s tower arm Bharti Infratel Wednesday reported its financial results for fourth quarter ended 31 March 2019 and for the full year FY2019. The company posted revenues of Rs 3600 crore for Q4, showing a dip of 2% for the same period a year ago. In Q4, 2018, Bharti ingrates posted revenues of Rs 3662 crore.

Similarly, for the full year the tower company posted revenues of Rs 14,582 crore as against Rs 14,490 crore for FY2018, showing a growth of just 1%.

As far as net profit is concerned, the firm pocketed Rs 608 crore in Q4, 2019 as against Rs 606 crore for the same period a year ago, showing almost flat growth. The net profit for the entire financial year 2019 has been reported at Rs 2494 crore. For FY 2018, the net profit of the company was exactly the same – Rs 2494 crore.

The company said despite major co-location exits in the quarter and during the year due to consolidation in telecom industry, the company has been able to maintain net profit at same level and report operating free cash flow growth of 14% on Y-o-Y basis.

“Between Bharti Infratel and Indus Towers, approximately 20% of opening co-locations were lost during the year translating to approximately 75,000 co-locations on an overall basis and approximately 40,000 co-locations on consolidated basis, mainly due to merger of Vodafone & Idea,” said Akhil Gupta, Chairman, Bharti Infratel.

“However”, he added, “despite such unprecedented loss of co-locations, the overall financial performance for the year and the quarter ended March 31, 2019 has only been marginally lower than last year. This is a testimony to a sound business model and our leadership position in the industry. We believe that with rapidly growing data demand, large network rollouts will be required, indicating  strong potential for the company in coming years and we are already seeing some early signs of acceleration in network rollouts. We are fully prepared to exploit this potential and meet all requirements of our customers for speedy rollouts,”

At the end of March 2019, the company had a total tower base of 92277 with tenant sharing of 1.87per tower.

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