Tower provider Bharti Infratel reported a 10% growth in its revenue and profit for the first quarter.
The Consolidated revenues for the quarter, at Rs. 3,524 Crore, was up by 10% over the corresponding period last year.
Consolidated profit from operations improved to Rs 1,575 Crore, up 12% compared to last year. Operating margin was 44.7%.
Consolidated profit before tax at Rs. 1,095 Crore up 10% Y-o-Y, but net profit was down 12%.
The Operating Free Cash Flow grew by 4% Y-o-Y to Rs. 992 Crore for the quarter.
The final dividend of Rs 4 per equity share for the year ended March 2017 has been approved by the shareholders in the annual general meeting dated July 22,2017, the company said.
“Indian telecom is moving towards a data centric business model as the demand for data is growing exponentially with the nation decisively embracing the digital world,” said
Akhil Gupta, Chairman, Bharti Infratel Limited.
“We continue to observe significant network rollouts for data coverage and we believe all operators will further accelerate their data network rollout plans to grab a share in the growing data market.
“The Government of India’s Digital India program and Smart City project pose additional opportunity to create infrastructure for sharing on a non-discriminatory basis. As Bharti Infratel and Indus Towers, we are well positioned to grab our fair share of the emerging data led growth market and build vital infrastructure for Smart Cities for sharing on non-discriminatory basis.”
Bharti Infratel is promoted by Bharti Airtel, India’s largest telecom provider by reveneu.