Bharti Infratel Q2 PAT drops 17 per cent

Bharti Infratel Q2 Proft After Tax (PAT) dropped 17 per cent to reach Rs. 638 crore.

Bharti Infratel consolidated revenues for the quarter stood at Rs. 3,648 crore grew by 11% over the corresponding period last year. Consolidated EBITDA improved to Rs. 1,634 crore up 12% Y-o-Y, representing an operating margin of 44.8%.

Consolidated EBIT improved to Rs. 1,021 crore up 15% Y-o-Y. The Operating Free Cash Flow grew by 31% Y-o-Y to Rs. 1,224 crore for the quarter.

Bharti Infratel has a total of 90,955 towers with total co-locations in excess of 220,000 with a tower sharing factor at 2.42.

Akhil Gupta, Chairman, Bharti Infratel said, “Indian telecom has embraced the data centric model and is emerging as the showcase of digital technology with operators rolling out 4G networks and India planning a leadership role on upcoming 5G technology and associated applications. The Government of India’s Smart Cities program presents additional opportunity to create infrastructure for sharing on a non-discriminatory basis. All of this is good for the sector at large.”

“As Bharti Infratel and Indus Towers, we are well positioned to grab our fair share of market and create sustainable value for all stakeholders,” added Gupta.

The board of directors of Bharti Infratel has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel.