Bharti Infratel is a company that deploys, own and manages telecom towers and communication services across the country. The company has over 42,053 standalone towers across 18 states, and 11 telecom circles in India.
Bharti Infratel announced its Q1 results, with its Net Profit consolidated at Rs 401.6 Cr it declined QoQ at 0.84% from Rs 405 Cr at Q4FY20 and YoY at 35.52%. Total Revenue declared was Rs.1651.0 Cr facing a decline of 4% QoQ from Rs.1720 Cr last Quarter at Q4FY20. Total Revenue YoY fell by 7%. from Rs. 1778 Cr. Last Year. The company also declared an interim dividend of Rs 2.30 per equity share of Rs 10 each for the financial year 2020-21.
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.
“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,” Bharti Infratel Chairman Akhil Gupta said in the statement.
The company’s consolidated earnings before interest, tax, depreciation & amortization (EBITDA) declined 7% to Rs 1807 crore on-year while the operating cash flow was down 5% on-year to Rs 1267 crore.