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Bharti Infratel posts 17 per cent drop in Q2 net profit
REUTERS
Published : Oct 30, 2017, 8:27 pm IST
Updated : Oct 30, 2017, 8:27 pm IST
Profit after tax fell to Rs 6.38 billion ($98.40 million) in the quarter ended September 30, from Rs 7.74 billion in 2016.
Bharti Infratel Ltd reported a 17 per cent drop in second-quarter profit, missing analysts’ estimate, as higher expenses weighed.
Indian telecom tower company Bharti Infratel Ltd reported a 17 per cent drop in second-quarter profit, missing analysts’ estimate, as higher expenses weighed.
Profit after tax fell to Rs 6.38 billion ($98.40 million) in the quarter ended September 30, from Rs 7.74 billion a year earlier, the company said on Monday.
Analysts on average had expected the company, which is majorly owned by Bharti Enterprises, to post a profit of Rs 7.41 billion, according to Thomson Reuters data.
Total expenses rose nearly 7 per cent to Rs 8.61 billion.
