Bharti Infratel has announced its results for the quarter ended (QE) September 30, 2019. The company has witnessed a rise of 61 per cent in profit after tax (PAT) from Rs 6 billion in September 2018 to 9.64 billion in September 2019. However, the revenue has declined by 1 percent from Rs 36.68 billion to Rs 36.38 billion during the same period.
On the earnings before interest, taxes, depreciation and amortisation (EBITDA) front, the company has performed well with a 25 per cent year-on-year (YoY) growth from Rs 15.06 billion to Rs 18.85 billion during the period.
The number of towers increased from 92,123 towers in September 2018 to 93,421 in September 2019. However, total co-locations declined to 173,406 from 174,512 during the same period.
With regards to the merger with Indus towers, the board of Bharti Infratel has stated that the company will not be able to complete the merger by the deadline of October 24, 2019 due to pending government approvals.
Commenting on the results, Akhil Gupta, chairman, Bharti Infratel Limited, said, “Bharti Infratel has continued on the positive trend in quarterly net additions on both towers and co-locations during the quarter ended September 30, 2019. We continue to believe that there is a strong growth potential in telecom passive infrastructure in the country as telecom networks keep pace with the continuing exponential data consumption growth. Both Bharti Infratel and Indus towers are well poised with their industry-leading scale and strong financial position to partner with mobile operators as they look to intensify their networks.”