Bharti Infratel Q4-FY'14 net profit jumps 64% to rs472 crore
24 April 2014
Bharti Infratel Ltd, the tower arm of the Bharti Group that controls the country's largest telecom firm Bharti Airtel, has reported a 64-per cent jump in its fiscal fourth quarter (January-March 2013-14) net profit at Rs472 crore.
The company had reported a net profit of Rs287 crore in the corresponding quarter ended 31 March 2014.
Consolidated revenues of the company grew 4 per cent to Rs2,790 crore for the period compared to Rs2,674 crore in the same period last year.
"The regulatory environment in telecom sector has improved significantly post the spectrum auctions conducted in February 2014. Operators have made large investments, primarily for data networks. We believe that faster roll-out of networks will happen over the coming years to monetise these investments," Bharti Infratel chairman Akhil Gupta said in a statement.
''The telecom industry is entering a new phase and data proliferation will be the key driver for tower and co-location demand in future. Bharti Infratel is well positioned to cater to this demand and garner a major share thereof,'' he said.
For the fiscal 2013-14, the company reported a net profit of Rs1,518 crore against Rs1,003 crore in the previous financial year.
Full year revenues were up 5 per cent at Rs10,827 crore compared to Rs10,272 crore in the previous financial year.
The board of directors of the company has proposed a dividend of Rs4.40 per share for the year.
The total dividend, including the dividend distribution tax, is approximately 90 per cent of the current year profits.
The payment of proposed final dividend is subject to approval of the shareholders in the ensuing annual general meeting of the company.