Bharti Infratel has posted a consolidated net profit of Rs 7.04 billion for quarter ended (QE) June 2020. On an annual basis, the net profit has declined by 21 per cent from Rs 8.87 billion in QE June 2019.
The company’s consolidated revenue declined by 6 per cent year-on-year (YoY) to Rs 35.05 billion in QE June 2020 from Rs 37.12 billion in QE June 2019.
Further, Bharti Infratel reported a growth of 7 per cent (YoY) in its consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) from Rs 19.53 billion during QE June 2019 to Rs 18.07 billion during QE June 2020. While the operating cash flow was up 5 per cent YoY from Rs 12.07 billion to Rs 12.67 billion during the period.
The company’s tower addition in the quarter was 430on a net basis, leading to an installed base of 95,801. On a YoY basis, the firm gained 969co-locations, which makes its total number of co-locations 174,216.
Commenting on the results, Akhil Gupta, chairman, Bharti Infratel Limited, said, “The ongoing Covid-19 crisis has emerged as a significant global public health challenge while bringing economic activity to a virtual standstill in many countries. India is also witnessing an unprecedented crisis on account of the same. During this time, the Indian Telecom industry has been providing much needed support in the form of connectivity to the public at large. It is a matter of satisfaction for all of us at Indus and Infratel to rise to the occasion in providing vital connectivity which has kept the country connected and businesses continuing despite a very large number of people working from home. My compliments to the entire team particularly those in the field for enabling us to perform this crucial national duty. The resilience shown by telecom industry as a vital service even in the wake of extreme exigencies like Covid-19, bears well for the future potential of our infrastructure industry. We remain fully prepared in maintaining and strengthening our leadership position going forward.”
