Bharti Infratel’s net profit for the fourth quarter of 2018-19, remained flat at Rs 607.6 crore amid the proposed mergers and acquisitions in the tower business due to consolidation of the telecom industry. The company hopes to finalise its own merger with Indus Towers in the coming months. It’s net profit was Rs 606 crore in the same quarter a year before. Even on a yearly basis, profit after tax remained unchanged at Rs 2,493.8 crore. Total income for the quarter was marginally down to Rs 1,694 crore, from Rs 1,719 crore in the same period last year. For the full year, it improved slightly to Rs 6,928 crore, from Rs 6,726 crore in 2017-18.
“The year gone by saw major consolidation in the telecom industry, with four operators ceasing to exist, either on account of mergers or outright shutdown of operations. We believe that with rapidly growing data demand, large network roll-outs will be required, indicating strong potential for the company in the coming years. We are already seeing some early signs of acceleration in network roll-out,” said Akhil Gupta, chairman. The merger process with Indus Towers was on track and ought to be complete in a few months, he said. Analysts say the merger with Indus will create the largest tower firm in India. The share price of Bharti Infratel
closed at Rs 302.15 on Wednesday, up 2.6 per cent from Tuesday’s, on BSE.