INSUBCONTINENT EXCLUSIVE:
Bharti Infratel, which runs telecom towers across India, saw 7 per cent jump in March quarter profits thanks to enhanced focus on improving
the quality of networks by its clients
increased the deadline of its merger with Indus Towers to June 24.
Here are key highlights from March quarter numbers:
Nos of towers growThe
company said thanks to the tariff increase by the telecom operators and encouraging trends on overall wireless data consumption, Bharti
Infratel and Indus Towers witnessed an increase in gross additions both on towers and co-locations on a year-on-year basis.
The company
added 1,128 towers and 431 co-locations during the last quarter
Chairman, Bharti Infratel.
Cash flow drops 27%The company's free operating cash flow depleted by one fourth in the March quarter compared to
the corresponding quarter last year
The metric, which signifies the financial strength of the company, stood at Rs 847 crore in the quarter under consideration
Similarly, adjusted fund from operations dropped 9 pet cent to Rs 1,310 crore.
Indus Tower merger deadline extendedThe long stop date for
merger with Indus Towers that was supposed to end on April 24 has been extended to June 24
The company said the Board of Directors took note of the status of merger between Indus and Bharti Infratel and further extended the
deadline.
Pays dividend @Rs 4.1 per shareThe company has declared the third interim dividend of Rs
the dividend.
This along with the two interim dividends of Rs 3.65 and Rs 2.75 announced earlier, would result in a total dividend of
Rs.10.5 per equity share for the last fiscal.
Other income doublesThe company reported twofold increase in income from other sources to Rs
38.6 crore from Rs 18.6 crore in the same quarter last year
expenses came down to nil from Rs 87.5 crore in March 2019 quarter
The company also reported a reduction in power bill by Rs 22.6 crore
However, other expenses grew from Rs 28.4 crore to Rs 80.6 crore.
Income tax bill halvesThe company paid net Rs 135 crore in income taxes
this quarter, nearly half of Rs 257.2 crore paid in the corresponding quarter last year, thanks to the new rate of corporate taxes announced
by the government last year.
No major impact of lockdownSince the telecom services have been deemed essential, the industry is among the
on the financial position and performance of the Group
Further, the Group is not expecting any significant changes in estimates as of now as the company is running its business and operations as
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