Bharti Infratel Q2 profit down 17% QoQ, revenue up 11%

Bharti Infratel reported a 17% fall in its net profit for the three months ended September, due to a sharp decline in its finance-related revenue.

On finance charges, there was a net inflow of 62 cr this quarter compared to an inflow of 306 cr last year.

Net profit fell to Rs 638 cr from 774 cr last year even as revenue jumped 11%.

Operating profit (EBIT) was higher by 15% at 1,021 cr compared to the year ago due to favorable operating leverage.

Operating Free Cash Flows came in at Rs 1,224 Crore, up 31% Y-o-Y.

Akhil Gupta, Chairman, Bharti Infratel Limited, 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.

“Leading operators have announced enhanced investment plans towards improvising digital infrastructure during the recently concluded India Mobile Congress. 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,” he said.