Bharti Infratel net profit rises 12% to Rs 277 crore

New Delhi, Oct 28 –  Bharti Airtel's tower business unit Bharti Infratel on Monday reported a 12% jump in its net profit at Rs 277 crore for the quarter ended September 30, 2013, on the back of incremental gains from increased sharing of infrastructure.

 

The company had reported a net profit of Rs 248 crore in the corresponding period last fiscal, the company said in a statement. Revenue of the tower firm also rose 5% to Rs 2,684 crore for the reported period as compared to Rs 2,556 crore for the same period last year, it added. "With regulatory environment in telecom sector showing signs of stabilizing and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters," Bharti Infratel vice chairman and MD Akhil Gupta said.

 

He added the company's business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure. The total tower base of the company stood at 82,476 as on September 30, 2013, while the average sharing factor increased to 1.93 from 1.91 in the same period last year.

 

Source: PTI, TOI