Bharti Infratel has reported a 24 per cent growth in its profits from Rs 4.62 billion for the quarter ended June 2014 to Rs 5.75 billion for the quarter ended June 2015. This growth was on account of a decline in finance costs, which reduced by 15 per cent, from Rs 784 million to Rs 665 million during the same period. Meanwhile, the company witnessed a 6 per cent growth in total revenues, from Rs 28.42 billion to Rs 30.15 billion, also during the same period.
The company?s earnings before interest, taxes, depreciation, and amortisation (EBITDA) improved by 10 per cent from Rs 11.85 billion for the quarter ended June 2014 to Rs 13.02 billion for the corresponding quarter in 2015. Further, the EBITDA margins improved from 41.7 per cent to 43.2 per cent, during the same period.
Meanwhile, Bharti Infratel has launched a sponsored American Depository Receipts (ADR) issue in the US and reiterated its interest in buying Idea Cellular and Vodafone India’s towers to expand its footprint. The sponsored ADR offering will help owners of the company?s stock in India sell their shares to investors in the US. These ADRs can be traded on the US over-the-counter (OTC). Citi’s Issuer Services business, acting through Citibank NA, has been appointed as the depositary bank for the ADR program.
As of Jun 30, 2015, Bharti Infratel owns and operates 37,486 towers with 77,292 co-locations in 11 circles. Further, the company operates over 2,900 solar-powered sites across the network on a consolidated basis, which helps in reducing emissions from DG sets and dependency on diesel.
