Bharti Infratel Quarterly Profit Beats Market Estimates
Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said.
An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi. (Image: Reuters)
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Mumbai: Telecom tower company Bharti Infratel Ltd reported a 10.8 percent rise in third-quarter profit on Wednesday, beating market estimates.
Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said.
Analysts on average had expected a profit of 5.59 billion rupees, Refinitiv Eikon data showed.
The company, majority owned by telecoms carrier Bharti Airtel Ltd, merged its operations with Indus Towers last year amid a vicious price war in the world's second-biggest market by mobile phone users.
Revenue from operations grew 2.2 percent to 17.33 billion rupees.
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Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said.
Analysts on average had expected a profit of 5.59 billion rupees, Refinitiv Eikon data showed.
The company, majority owned by telecoms carrier Bharti Airtel Ltd, merged its operations with Indus Towers last year amid a vicious price war in the world's second-biggest market by mobile phone users.
Revenue from operations grew 2.2 percent to 17.33 billion rupees.
Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.