Telecom infrastructure company Bharti Infratel has reported a consolidated net profit of ₹620 crore for the third quarter ended December 31, up 25 per cent as compared with ₹495 crore in the corresponding period last year.
Revenues were up 10 per cent year-on-year (YoY) to ₹3,401 crore during the quarter as against ₹3,106 crore in October-December 2015, the company said in a statement.
“Indian telecom is witnessing strong data growth led by the digitisation wave across the country. Post large investments in spectrum, operators are focused on strengthening their network capacities and coverage, resulting in highest ever addition of co-locations in this quarter,” Akhil Gupta, Chairman, Bharti Infratel, said after the results on Monday.
With deployment capabilities and strong balance sheet, the company was geared up to capitalise on this opportunity and partner the telecom operators in even faster rollout of data networks, he said.
The company said consolidated EBITDA also improved to ₹1,496 crore up nine per cent YoY, representing an operating margin of 44 per cent.
As of December 31, the company had 90,255 towers as compared to 88,055 towers in December 2015, the company added.
Shares of Bharti Infratel closed at ₹347.55 on the BSE on Monday, down 1.60 per cent from the previous close.