New Delhi–Telecom tower infrastructure services provider Bharti Infratel’s consolidated net profit went up 25 per cent in the third quarter of 2016-17, the company said on Monday.
The company posted a net profit of Rs 620 crore for the October-December period in the current fiscal, compared to Rs 495 crore in the corresponding period in 2015-16, it said in a statement.
“Indian telecom is witnessing strong data growth led by the digitization 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,” said Akhil Gupta, Chairman, Bharti Infratel.
“With deployment capabilities and strong balance sheet, Bharti Infratel is fully geared up to capitalize on this opportunity and partner the telecom operators in even faster rollout of data networks,” he added.
The consolidated revenue of the company stood at Rs 3,401 crore of the third quarter of 2016-17 compared to Rs 3,106 crore of 2015-16.
It has a total tower base of 90,255.
The company’s shares closed at Rs 347.55 per share in the BSE on Monday, down 1.60 per cent. (IANS)