Bharti Infratel Ltd on Monday reported consolidated net profit of ₹774 crore for the second quarter ended September.
This is a growth of 31 per cent year-on-year, as compared with the net profit of ₹592 crore in the corresponding period last year.
The consolidated revenues for the quarter rose eight per cent to ₹3,292 crore from ₹3,041 crore in the same period last year.
“With the conclusion of recent spectrum auctions, the Indian telecom industry is gearing up for the next round of network rollouts. Bharti Infratel is well poised to capitalise on this opportunity and to support telecom operators in rollout of 3G and 4G networks,” Akhil Gupta, Chairman, Bharti Infratel, said.
He said 960MHz of data spectrum, which was sold in 800, 1800, 2100, 2300 and 2500 MHz bands for ₹66,000 crore in the recently-concluded auctions, have taken the total investment in spectrum since 2010 to over ₹3,58,000 crore ($53.7 billion), which is good for companies like Bharti Infratel.
“The telecom sector is already witnessing big increase in demand for high speed data and availability of this additional spectrum will further spur investments from operators towards data rollouts across the country,” he added. Shares of the company closed at ₹369.85 on the BSE on Monday, up 2.03 per cent from the previous close.