Bharti Infratel rose 1.03% to Rs 166.75 at 12:31 IST on BSE after consolidated net profit rose 62% to Rs 410.50 crore on 4% growth in revenue from operations to Rs 2731.10 crore in Q3 December 2013 over Q3 December 2012.
The Q3 result was announced during market hours today, 23 January 2014.
Meanwhile, the BSE Sensex was down 24.16 points, or 0.11%, to 21,313.51
On BSE, so far 59,833 shares were traded in the counter, compared with an average volume of 55,482 shares in the past one quarter.
The stock hit a high of Rs 171.90 and a low of Rs 164.85 so far during the day. The stock hit a record high of Rs 215.50 on 29 January 2013. The stock hit a record low of Rs 126.05 on 28 August 2013.
The stock had underperformed the market over the past one month till 22 January 2014, falling 6.14% compared with the Sensex's 1.22% rise. The scrip, however, outperformed the market in past one quarter, gaining 2.71% as against Sensex's 2.27% rise.
The large-cap company has an equity capital of Rs 1888.92 crore. Face value per share is Rs 10.
Bharti Infratel said that consolidated revenue comprises primarily of revenues from co-locations of Bharti Infratel and 42% economic Interest in Indus and their energy billings. For the Q3 December 2013, Bharti Infratel and Indus had average sharing factors of 1.87 and 2.02 per tower, respectively.
Bharti Infratel's total towers stood at 82,813 units in Q3 December 2013 from 81,389 units in Q3 December 2012.
The group's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 15.5% to Rs 1129.8 crore in Q3 December 2013 over Q3 December 2012. The company reported EBITDA margin of 41.4% in Q3 December 2013.
In terms of dividend policy, Bharti Infratel said that the declaration and payment of dividends will be recommended by the Board of Directors and approved by the shareholders of the company. In their discretion, subject to the provision of the Articles of Association and the Companies Act. The dividend, if any, will depend on a number of factors, including but not limited to the earnings, capital requirements, contractual restrictions and overall restrictions and overall financial position of the company.
Bharti Infratel said that subject to the statutory provisions, as applicable, our company intends to have a total dividend payout between 60% to 80% of the net profit of our company for the year or 100% of any dividend received by our company from its investee company(ies), whichever is higher, subject to the company retaining adequate liquidity to take care of planned business activities and expansion plans including capital expenditure and other use of such funds including, but not limited to, any debt servicing requirements, acquisitions, and ensuring an acceptable credit rating, as may be determined, by the Board from time to time.
The declaration of dividend will always however be at the sole discretion of the Board (subject to approval by the shareholders of our company) who will review this policy at least once every three financial years keeping in mind the business environment and requirements of our company, its subsidiaries and joint ventures, the company said.
Bharti Infratel and Indus, that are represented by Bharti Infratel's 42% equity interest in Indus. The business of Bharti Infratel and Indus is to acquire, build, own and operate tower and related infrastructure and Indus currently provide access to their towers primarily to wireless telecommunications service providers on a shared basis, under long
Bharti Infratel's and Indus' three largest customers are Bharti Airtel (together with Bharti Hexacom), Vodafone India and Idea Cellular, which are the three leading wireless telecommunications service provider wireless revenue.
As of 31 December 2013, Bharti Infratel owned and operated 35,515 towers with 66,871 co-locations and 11 telecommunications Circles while Indus operated 1,12,615 towers with 2,29,760 telecommunications Circles. With Bharti Infratel's towers and Bharti Infratel's 42% interest in Indus, we have an economic interest in the equivalent of 82,813 towers and 163,370 co-locations as of 31 December 2013.
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