Indian telecom tower company Bharti Infratel has posted revenue of Rs 3,674 crore (+4 percent), EBITDA of Rs 1,521 crore (–3 percent) and net profit of Rs 638 crore (–4 percent) in the first quarter ended June 30, 2018.
Bharti Infratel said the decline in EBITDA and net profit was due to co-location exits of 26,743 in the last 12 months as a result of operator consolidation in the Indian telecom industry.
The number of telecom towers increased to 91,759 in the first quarter of fiscal 2018-19 from 91,451 in the fourth quarter of fiscal 2017-18.
The number of co-locations fell to 200,778 in the first quarter of fiscal 2018-19 from 205,596 in the fourth quarter of fiscal 2017-18.
Bharti Infratel said it has received approvals from Competition Commission of India (CCI) and Bombay Stock Exchange (BSE) for the proposed merger of Bharti Infratel and Indus towers.
“With our nationwide coverage, operational excellence and strong financial position, we will continue to be the partner for all mobile operators for their passive infrastructure needs,” said Akhil Gupta, chairman of Bharti Infratel.