Bharti Infratel has posted a consolidated net profit of Rs 6.49 billion for quarter ended (QE) March 2020. On an annual basis, the net profit has surged by 7 per cent from Rs 6.07 billion in QE March 2019.
The company’s consolidated revenue rose by 0.7 per cent year-on-year (YoY) to Rs 3.62 billion in QE March 2020 from Rs 3.60 billion in QE March 2019.
Further, Bharti Infratel reported a growth of 12 per cent (YoY) in its consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) from Rs 15.34 billion during QE March 2019 to Rs 17.21 billion during QE March 2020. While the operating cash flow was down 47 per cent YoY from Rs 11.54 billion to Rs 8.47 billion during the period.
The company’s tower addition in the quarter was 1,128 on a net basis, leading to an installed base of 95,372. On a YoY basis, the firm gained 1,857 co-locations, which makes its total number of co-locations 174,581.
Meanwhile, Bharti Infratel has also extended the long stop date for its merger with Indus towers for the fourth time, to June 24, 2020.
Commenting on the results, Akhil Gupta, Chairman, Bharti Infratel Limited, said, “After a few tumultuous years, the Indian telecom industry took much needed constructive measures in the year gone by in the form of tariff increases. This along with encouraging trends on overall wireless data consumption has led to enhanced focus on improving the quality of networks. As a result, during the year both Bharti Infratel and Indus Towers witnessed an increase in gross additions both on towers and co-locations on a year-on-year basis. We believe this is a harbinger of the future especially as witnessed in the current environment of the Covid-19 crisis, where the nation’s dependence on wireless networks has been further elevated. We as part of the telecom passive infrastructure industry are fully committed to supporting the government and our customers, the telecom operators in the journey of India becoming a global benchmark in digital connectivity and inclusion.”