Telecom sector out of danger, says Bharti Infratel chairman Akhil Gupta

Bharti Infratel Chairman Akhil Gupta on Friday said the telecom sector was out of the woods and expects the future to be robust.

During the post-earnings conference call, Gupta said it was just a matter of time before growth returns in the telecom space. He hoped the trend would continue because the sector, as “Covid has shown, is the absolute lifeline of this country”.

Bharti Infratel on Thursday announced a 24 per cent year-on-year decline in its profit after tax of Rs 733 crore for the quarter ended September. The company had reported a profit after tax of Rs 964 crore in the year-ago period. 

The consolidated revenue for the quarter was Rs 3,695 crore, up marginally by 2 per cent from Rs 3,638 crore in the same period, last year.