New Delhi: Mobile tower company Bharti Infratel on Tuesday reported a 71 per cent jump in consolidated net profit at Rs 756.2 crore for the quarter ended June 2016.
The company had posted a net profit of Rs 442.4 crore for the corresponding period a year ago.
"Indian telecom industry is going through consolidation, we believe this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand. Bharti Infratel and Indus Towers being the leaders are fully geared to serve our customers' demand," Bharti Infratel chairman Akhil Gupta said in a statement.
He said the company is also seeing some early signs of implementation of the government's Smart City initiative which would provide opportunities to infrastructure companies.
Total income from operations of the company increased 5.9 per cent to Rs 1,453.1 crore during the reported quarter compared to Rs 1,371.7 crore in the corresponding period of the last fiscal year.
The company also reported financial performance in Indian Accounting Standards (Ind AS) format which included its share of revenue from joint venture firm Indus Towers.
As per the results declared, the revenue of Bharti Infratel, with its share in Indus Tower, increased 6.9 per cent to Rs 3,211.6 crore from Rs 3,182.7 crore a year ago.
Bharti Infratel share of revenue increased 7.7 per cent to Rs 1,758.5 crore in the reported quarter from Rs 1,632.3 crore in the year-ago period.
Shares in Bharti Infratel, on Tuesday, ended 0.79 per cent lower at Rs 362.4 apiece on the BSE, whose benchmark Sensex index finished down 0.42 per cent.
New Delhi: Mobile tower company Bharti Infratel on Tuesday reported a 71 per cent jump in consolidated net profit at Rs 756.2 crore for the quarter ended June 2016.
The company had posted a net profit of Rs 442.4 crore for the corresponding period a year ago.
"Indian telecom industry is going through consolidation, we believe this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand. Bharti Infratel and Indus Towers being the leaders are fully geared to serve our customers' demand," Bharti Infratel chairman Akhil Gupta said in a statement.
He said the company is also seeing some early signs of implementation of the government's Smart City initiative which would provide opportunities to infrastructure companies.
Total income from operations of the company increased 5.9 per cent to Rs 1,453.1 crore during the reported quarter compared to Rs 1,371.7 crore in the corresponding period of the last fiscal year.
The company also reported financial performance in Indian Accounting Standards (Ind AS) format which included its share of revenue from joint venture firm Indus Towers.
As per the results declared, the revenue of Bharti Infratel, with its share in Indus Tower, increased 6.9 per cent to Rs 3,211.6 crore from Rs 3,182.7 crore a year ago.
Bharti Infratel share of revenue increased 7.7 per cent to Rs 1,758.5 crore in the reported quarter from Rs 1,632.3 crore in the year-ago period.
Shares in Bharti Infratel, on Tuesday, ended 0.79 per cent lower at Rs 362.4 apiece on the BSE, whose benchmark Sensex index finished down 0.42 per cent.
New Delhi: Mobile tower company Bharti Infratel on Tuesday reported a 71 per cent jump in consolidated net profit at Rs 756.2 crore for the quarter ended June 2016.
The company had posted a net profit of Rs 442.4 crore for the corresponding period a year ago.
"Indian telecom industry is going through consolidation, we believe this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand. Bharti Infratel and Indus Towers being the leaders are fully geared to serve our customers' demand," Bharti Infratel chairman Akhil Gupta said in a statement.
He said the company is also seeing some early signs of implementation of the government's Smart City initiative which would provide opportunities to infrastructure companies.
Total income from operations of the company increased 5.9 per cent to Rs 1,453.1 crore during the reported quarter compared to Rs 1,371.7 crore in the corresponding period of the last fiscal year.
The company also reported financial performance in Indian Accounting Standards (Ind AS) format which included its share of revenue from joint venture firm Indus Towers.
As per the results declared, the revenue of Bharti Infratel, with its share in Indus Tower, increased 6.9 per cent to Rs 3,211.6 crore from Rs 3,182.7 crore a year ago.
Bharti Infratel share of revenue increased 7.7 per cent to Rs 1,758.5 crore in the reported quarter from Rs 1,632.3 crore in the year-ago period.
Shares in Bharti Infratel, on Tuesday, ended 0.79 per cent lower at Rs 362.4 apiece on the BSE, whose benchmark Sensex index finished down 0.42 per cent.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR
