Strong tenancy additions bolster Sept quarter show for Bharti Infratel

The company, which has received the go ahead on merger with Indus Towers, expects the trend to continue in the near term

Topics
Bharti infratel | Markets

Ram Prasad Sahu 

Bharti Infratel reported a robust September quarter performance led by a beat on revenue growth. The company posted a 5.4 per cent increase in consolidated revenues on a sequential basis as against estimates of 3 per cent growth. During this period, rental revenues rose 3.4 per cent due to a sharp rise in tenancies, lower exits and higher tenancy rates, and energy revenues grew 9 per cent.

This was better than estimates by 3-5 per cent. The key takeaway was the uptick in tenancy additions. Consolidated net tenancies were up by over 2,000 as compared to a decline posted in the June ...

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First Published: Fri, October 23 2020. 20:15 IST
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