Q4 Results: Bharti Infratel Posts Surprise Decline In Profit

Bharti Infratel Ltd. reported a surprise fall in profit in the quarter ended March as exit of two key tenants—Vodafone India Ltd. and Idea Cellular Ltd.—after their merger weighed on the telecom tower company’s financials.

Other Highlights

• In absolute terms, the company’s total tower base reduced by 24 to 92,277 at the end of the quarter.
• Total co-locations declined by 1,725 to 1.72 lakh.
• The management said merger process of Bharti Infratel and Indus Towers is on track and it may be completed in the next few months.
• The board declared second interim dividend of Rs 7.5 apiece.

Shares of Bharti Infratel closed 2.4 percent higher ahead of the results, compared with a 1.27 percent rise in the benchmark BSE Sensex.