Saturday, Oct 25, 2014

Bharti Infratel Q4 net profit jumps 64 per cent to $77.5 mn

Bharti Infratel is just under 80 percent owned by top Indian phone carrier Bharti Airtel Ltd. Bharti Infratel is just under 80 percent owned by top Indian phone carrier Bharti Airtel Ltd.
Reuters | New Delhi | Posted: April 24, 2014 10:36 am

Indian telecommunications tower operator Bharti Infratel Ltd reported a 64 per cent jump in its quarterly profit, beating estimates on higher revenue from leasing mobile phone masts to phone carriers.

Bharti Infratel, just under 80 per cent owned by top Indian phone carrier Bharti Airtel, said consolidated net profit rose to 4.72 billion rupees ($77.5 million) for its fourth quarter ended March, from 2.87 billion rupees a year earlier.

Revenue rose 4 per cent from a year earlier to 27.9 billion rupees.

Analysts on average had expected the company to report a net profit of 3.99 billion rupees on revenue of 27.88 billion rupees, according to Thomson Reuters I/B/E/S.

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