Bharti Infratel logs 21% fall in Q1 consolidated net profit

Mumbai, July 27 (SocialNews.XYZ) Bharti Infratel on Monday reported a 21 per cent fall in its consolidated net profit for the April-June quarter to Rs 704 crore.

During the corresponding period of last fiscal, the company had reported a consolidated net profit of Rs 887 crore.

"The consolidated revenue for the quarter was Rs 3,505 crore. Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) was at Rs 1,807 crore, representing an operating margin of 51.6 per cent," the company said in a statement.

The Board of Directors of Bharti Infratel in its meeting on Monday declared an interim dividend of Rs 2.30 per equity share of Rs 10 each for the financial year 2020-21.

Noting that India is witnessing an unprecedented crisis on account of the pandemic along with the global economy, Akhil Gupta, Chairman, Bharti Infratel, said: "During this time, the Indian telecom industry has been providing much needed support in the form of connectivity to the public at large."

"It is a matter of satisfaction for all of us at Indus and Infratel to rise to the occasion in providing vital connectivity which has kept the country connected and businesses continuing despite a very large number of people working from home. My compliments to the entire team particularly those in the field for enabling us to perform this crucial national duty," he said.

Gupta said that the resilience shown by the telecom industry as a vital service even in the wake of extreme exigencies like Covid-19, bears well for the future potential of our infrastructure industry.

"We remain fully prepared in maintaining and strengthening our leadership position going forward," he said.

Source: IANS