Bharti Infratel is India's leading provider of tower and related infrastructure, Q3 profit missed estimates.The three leading wireless telecommunications service providers in India by revenue - Bharti Airtel, Vodafone and Idea Cellular are the largest customers of Bharti Infratel. The company has been the industry pioneer in adopting green energy initiatives for its operations.
Q-o-Q December 2016 quarter consolidated results
For the quarter ended December 2016, sales grew 2% to Rs 1530.00 crore. OPM improved 10 basis points to 46.1% which saw OP grow 2% to Rs 705.60 crore.
Other income went down 5% to Rs 17.80 crore. Interest income halved to Rs 148.300 crore and depreciation grew 2% to Rs 293.40 crore. Thus PBT fell 20% to Rs 578.30 crore.
Share of profit in JV grew 6% to Rs 304.10 crore. Thus PBT after Share of profit in JV fell 13% to Rs 882.40 crore. As tax grew 10% to Rs 262.00 crore, PAT fell 20% QoQ to Rs 620.40 crore. Y-o-Y results
For the quarter ended December 2016, on y-o-y basis, sales grew 10%. OPM improved from 44.5% to 46.1% which saw OP go up 14%. As other income fell 54% interest income surged 493% and depreciation grew 1%, PBT grew 47%.
Share of profit in JV grew 7% after which PBT after Share of profit in JV grew 30%. After providing for tax (up 44%), net profit grew 25%.
Akhil Gupta, Chairman, Bharti Infratel Limited, said: “Indian telecom is witnessing strong data growth led by the digitization wave across the country. Post large investments in spectrum, operators are focused on strengthening their network capacities and coverage, resulting in highest ever addition of co-locations in this quarter. With deployment capabilities and strong balance sheet, Bharti Infratel is fully geared up to capitalize on this opportunity and partner the telecom operators in even faster rollout of data networks.”
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