Telecom tower company Bharti Infratel has reported a consolidated net profit of ₹648 crore for the third quarter ended December 31, up 11 per cent compared with ₹585 crore it reported in the corresponding period the previous year.

However, revenues declined marginally year on year (YoY) to ₹3,640 crore during the October-December quarter, as against ₹3,655 crore in the same period in 2017.

“The consolidation and integration phase in the Indian telecom industry along with exits of co-locations is over. We are now looking at the next phase of network and related infrastructure rollouts by operators – first for 4G and subsequently for rapidly evolving 5G – to cater to the growing demand for data,” said Akhil Gupta, Chairman, Bharti Infratel.

As of December 31, the company had 92,301 towers compared with 91,007 towers in December 31, 2017. “With our nation-wide coverage, strong financial and operational status, we continue to be the best placed to be the partner of choice for all operators,” he added.

Vodafone-Idea merger

Bharti Infratel and Indus Towers have sought exit charges following the Vodafone-Idea merger that led to two tenancies on a single tower being converted into one, and negotiations are on in this regard.

Prior to the merger, both the entities — Vodafone and Idea — had tenancies on the same tower of various infrastructure service providers, including Indus Towers and Bharti Infratel.

Related Topics
comment COMMENT NOW