Tower firm Bharti InfratelÂ today reported a 64 per cent jump in its net profit at Rs 472 crore for the quarter ended March 31, 2014.
The company had reported a net profit of Rs 287 crore in the corresponding period last year.
The revenues of the company grew 4 per cent to Rs 2,790 crore for the reported period as compared to Rs 2,674 crore in the same period last year.
“The regulatory environment in teleco sector has improved significantly post the spectrum auctions conducted in February 2014.
“Operators have made large investments, primarily for data networks. We believe that faster roll-out of networks will happen over the coming years to monetise these investments,” Bharti InfratelÂ Chairman Akhil Gupta said in a statement.
For the fiscal 2013-14, the company reported a net profit of Rs 1,518 crore as compared to Rs 1,003 crore last time.
Full year revenues were up by 5 per cent to Rs 10,827 crore as compared to Rs 10,272 crore.
Bharti InfratelÂ Q4 net profit jumps 64 pct to $77.5 mn
(Reuters) Indian telecommunications tower operatorÂ Bharti InfratelÂ LtdÂ reported a 64 per cent jump in its quarterly profit, beating estimates on higher revenue from leasing mobile phone masts to phone carriers.
Bharti Infratel, just under 80 per cent owned by top Indian phone carrierÂ Bharti Infratel, said consolidated net profit rose to 4.72 billion rupees ($77.5 million) for its fourth quarter ended March, from 2.87 billion rupees a year earlier.
Revenue rose 4 per cent from a year earlier to 27.9 billion rupees.
Analysts on average had expected the company to report a net profit of 3.99 billion rupees on revenue of 27.88 billion rupees, according to Thomson Reuters I/B/E/S.