 "Bharti Infratel profit up 31%")
Mobile tower firm Bharti Infratel on Monday reported 31 per cent jump in net profit at Rs 774 crore for the quarter ended September 30, 2016.
The company had reported a net profit of Rs 592 crore in the corresponding period last financial year (FY).
Revenues of the company also rose 8 per cent to Rs 3292 crore as compared to Rs 3041 crore in the same period of the last FY.
During the quarter, the company has completed the buyback of equity shares for an overall amount of Rs 2,000 crore.
Commenting on the recent spectrum auctions, Akhil Gupta, Chairman, Bharti Infratel said with the conclusion of sale, the Indian telecom industry is gearing up for the next round of network rollouts. 960 MHz of data spectrum was sold in 800, 1800, 2100, 2300 & 2500 MHz bands for a sum of around Rs 66,000 crore, taking the total investment in spectrum since 2010 to over Rs 358,000 crore.
“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. Bharti Infratel is well poised to capitalise on this opportunity and to support telecom operators in rollout of 3G and 4G networks,” Gupta said.
As on September 30, Bharti Infratel has 89791 towers with average sharing factor of 2.21. The sharing revenue per tower per month stood at 77,197.