Bharti Infratel, the telecom tower subsidiary of Bharti Airtel, on Monday reported a 61 per cent year-on-year (y-o-y) growth in consolidated net profit at Rs 964 crore for the second quarter ended September 30, 2019.
"The tower infrastructure company had posted a consolidated net profit of Rs 600 crore in the same quarter last year," Bharti Infratel said in a filing to the Bombay Stock Exchange.
The consolidated revenue, however, dipped by 1 per cent to Rs 3,638 crore during Q2FY20, as against Rs 3,668 crore in Q2FY19.
Bharti Infratel's operating profit, or Earnings before Interest, Tax, Depreciation And Amortisation (EBITDA), surged 25 per cent to Rs 1,885 crore in July-September quarter of FY20, as against Rs 1,506 crore in the same quarter last fiscal. The EBITDA margin improved to 49.6 per cent in Q2FY20 versus Rs 37.4 per cent in Q2FY19.
The operating free cash flow was up 8 per cent y-o-y at Rs 1,080 crore.
Commenting on the Q2 earnings, Akhil Gupta, Chairman, Bharti Infratel said, "Bharti Infratel has continued on the positive trend in quarterly net additions on both towers and co-locations during the quarter ended September 30, 2019. We continue to believe that there is strong growth potential in telecom passive infrastructure in the country as telecom networks keep pace with the continuing exponential data consumption growth."
"Both Bharti Infratel and Indus towers are well poised with their industry-leading scale and strong financial position to partner with mobile operators as they look to intensify their networks," he added.
As of September 30, 2019, Bharti Infratel owned and operated 41,050 towers with 76,176 co-locations, while Indus operated 124,692 towers with 231,500 co-locations. With Bharti Infratel's towers and its 42 per cent interest in Indus, the company owned 93,421 towers and 173,406 co-locations in India as of September 30, 2019.
Ahead of the Q2 results, shares of Bharti Infratel ended trade at Rs 261.80, up 1.79 per cent, on the BSE.
Edited by Chitranjan Kumar