Bharti Infratel on Monday reported a 21% decline in its consolidated net profit for the quarter ended June (Q1 FY21) at Rs 704 crore.
Its consolidated revenues dropped 6 per cent year-on-year (YoY) to Rs 3,505 crore, while consolidated EBITDA dropped 7% YoY to Rs 1,807 crore.
“It is a matter of satisfaction for all of us at Indus and Infratel to rise to the occasion in providing vital connectivity which has kept the country connected and businesses continuing despite a very large number of people working from home,” said Akhil Gupta, Chairman, Bharti Infratel.
“The resilience shown by telecom industry as a vital service even in the wake of extreme exigencies like Covid-19 bears well for the future potential of our infrastructure industry. We remain fully prepared in maintaining and strengthening our leadership position going forward,” he added.
The company’s operating free cash flows came in at Rs 1,267 crore, up 5% on a YoY basis.
The company also declared an interim dividend of Rs 2.30 per equity share of Rs 10 each for the financial year 2020-21.
The return on equity (RoE) pre-tax and post-tax increased to 29.9 per cent and 23.8 per cent as against 33.6 per cent and 26.9 per cent respectively on YoY basis. The return on capital employed pre-tax was 23.8 per cent against 26.1 per cent respectively on YoY basis.
“Thus the company believes that thus far, there is no significant impact of Covid-19 pandemic on the financial position and performance of the company. While rollouts were impacted partly in the quarter due to nationwide lockdowns, we are now running its business and operations without any major disruptions,” the company said.
As of June 30, Bharti Infratel owned and operated 42,339 towers with 75,435 co-locations in 11 telecommunication circles while Indus operated 1,27,291 towers with 2,35,192 co-locations in 15 telecommunication circles.
Bharti Infratel said it has accepted the resignation of DS Rawat as Managing director & CEO of the company and as a director from the board effective August 3.
On July 28 11:12, the stock was trading at Rs 189.80 on the BSE.
Source: ET Markets
