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Bharti Infratel Q1 Profit Jumps 39% To Rs. 887 Crore
Bharti Infratel, the wholly-owned telecom tower subsidiary of Bharti Airtel has posted a 39 percent jump in consolidated net profit at Rs. 887 crores for the June quarter. The company had recorded a net profit of Rs. 638 crore in the same period a year ago.
"We are pleased to note that after negative trend in net co-locations for the last six consecutive quarters due to consolidation in the telecom industry, we had net additions in co-locations this quarter," Akhil Gupta, Chairman, Bharti Infratel Limited, said.
"We hope and believe that this trend would continue as the operators post-consolidation and raising of significant capital recently will now focus on fresh rollouts of networks to increase both coverage and capacity which is the need of the hour," he added.
During the quarter the company has reported co-locations reduction of 956 basis exit notices received. However, as of June 30, 2019, there are cumulative 3,566 co-locations for which though the exit notices have been received but actual exits have not happened.
Operating Expenses
The consolidated total expenses for the quarter ended June 30, 2019, were Rs 17,591 million, or 47 percent of the consolidated revenues from operations.
Furthermore, Infratel informed that the largest component of the consolidated expenses during this period was power and fuel, amounting to Rs. 13,736 million. The other key expenses incurred by us during the quarter ended June 30, 2019, were repair & maintenance (operations and maintenance costs of the network) of Rs. 1,503 million and employee benefits expenses of Rs. 1,184 million.
Infratel - Indus Merger
Meanwhile, Bharti Infatel informed that the company has already received approval from Competition Commission of India and No Objection from the SEBI through BSE Limited and National Stock Exchange of India Limited.
In fact, the approval from National Company Law Tribunal (NCLT) has also been received.
However, the approval from the Department of Telecommunications for FDI approval is awaited.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
1,39,900
-
1,29,900
-
79,900
-
65,900
-
12,999
-
96,949
-
16,499
-
38,999
-
49,999
-
30,700
-
36,999
-
38,999
-
1,17,840
-
35,000
-
23,960
-
82,510
-
16,258
-
25,999
-
26,999
-
31,999