Bharti Infratel quarterly profit beats estimates
- By Reuters |
- Jan 23, 2019
- Last Updated at 18:13 IST
Indian telecom tower company Bharti Infratel Ltd reported a 10.8 percent rise in third-quarter profit on Wednesday, beating market estimates.
Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said.
Analysts on average had expected a profit of 5.59 billion rupees, Refinitiv Eikon data showed.
The company, majority owned by telecoms carrier Bharti Airtel Ltd, merged its operations with Indus Towers last year amid a vicious price war in the world's second-biggest market by mobile phone users.
Revenue from operations grew 2.2 percent to 17.33 billion rupees.
($1 = 71.2840 Indian rupees)
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