Bharti Infratel’s managing director D S Rawat is not keen to take on the top job of the combined tower entity created post-merger with Indus Towers.
“Managing director D.S Rawat has informed the board of directors Wednesday that post-merger of Bharti Infratel and Indus, he would not like to be considered for the role of MD & CEO of the merged entity,” but would like to continue within the Bharti Group in a senior role,” the country’s sole listed tower company said in an exchange filing.
Rawat though would continue in his current role till the merger with Indus is completed and would be actively engaged in ensuring smooth integration of the two entities, Bharti Infratel said in the exchange filing.
Bharti Infratel on Wednesday reported a flat net profit in the fiscal fourth quarter, hit by a sharp drop in co-locations on its telecom sites amid rapid consolidation in the sector, and said its merger with Indus is on track and will be completed in the next few months.
India’s sole listed tower company’s consolidated net profit for the January-March period came in at Rs 608 crore compared with Rs 606 crore a year ago, and Rs 648 crore in the previous three-month period.