Bharti Infratel s consolidated net profit drops 6% in Q3

New Delhi Jan 17 (IANS) Bharti Infratel s consolidated net profit dropped by 6 per cent for the third quarter of 2017-18 the company said on Wednesday.

The company posted consolidated net profit of Rs 585 crore for the October-December quarter. It had clocked consolidated net profit of Rs 620 crore for the corresponding quarter in 2016-17.

"We are all aware that the Indian telecom industry is transforming with unprecedented consolidation. Inevitably and as anticipated we saw exits of co-locations from such consolidating operators this quarter " said Akhil Gupta Chairman Bharti Infratel Limited in a statement here.

"While there would be more exits on this account in coming few quarters we expect the overall long-term impact to be positive due to expected accelerated step-up of nationwide 4G rollouts by remaining operators. With our reach financial strength and operational expertise we are in the best position to capture what we believe is a big potential for our industry based on exciting data-based demand " he added.

--IANS
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