Bharti Infratel to explore to buy stake in Indus Towers

New Delhi, Oct 30 (IANS) Tower company Bharti Infratel on Monday said it has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers with the aim of making it a subsidiary or wholly owned subsidiary.

At present, Bharti Infratel has 42 per cent stake in Indus Towers. The balance is with Vodafone India, Idea Cellular and Providence Equity Partners.

Bharti Infratel's net profit went down by 17 per cent for the July-September quarter of 2017-18, a company statement said on Monday.

The company has posted net profit of Rs 638 crore for the second quarter of 2017-18, compared to Rs 774 crore during the corresponding quarter a year back.

The company's revenue grew by 11 per cent during the quarter. It has clocked revenue of Rs 3,648 crore for the second quarter of 2017-18, up from Rs 3,292 crore posted during the same quarter a year back.

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