Bharti Infratel Limited on Monday reported an increase of 68 percent in net profit  at Rs 358 Crore for the first quarter ended June 30, 2013. This was the result of rise in sales and restructuring.
 
The company reported the consolidated revenues for Q1FY14 at Rs. 2,622 Crore which grew by 9% over the corresponding period last year. Consolidated EBITDA improved to Rs. 1,055 Crore, up 19% Y-o-Y.

“Consolidated profit after tax came in at Rs. 358 Crore, up 68% Y-o-Y. Consolidated Operating Free Cash Flow for the quarter was at increase of 65% over the corresponding period last year on account of higher operating income and lower capex in the current quarter”, it said in a statement.

The company, which owns 42 percent of Indus Towers Ltd, the world's biggest telecommunications tower company. During the quarter, Delhi High Court had sanctioned the Scheme of Arrangement for merger of Bharti Infratel Ventures Ltd (“BIVL”), a wholly owned subsidiary of Bharti Infratel Ltd. with Indus Towers Ltd. The said merger became effective on June 11, 2013

Akhil Gupta, Vice Chairman & Managing Director, Bharti Infratel Limited, said: “We are pleased that our results demonstrate and reaffirm our robust business model whereby despite relatively low capex deployment by operators in the current quarter, we had significant incremental financial gains from increased sharing of our infrastructure.”

“With regulatory environment in telecom showing signs of settling down, focused roll out approach by new operators, faster 3G rollouts by existing operators as a result of strong data growth across the country plans to roll out 4G during the year, we expect deployment and hence infrastructure sharing to pick up in the coming quarters”, he added.

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