Bharti Infratel net down 21% to ₹704 crore

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Telecom infrastructure provider Bharti Infratel on Monday reported a consolidated net profit of ₹704 crore for the first quarter ended June 30, down 21 per cent compared to ₹887 crore in corresponding period last year.Revenue declined by six per cent for the said period to ₹3,505 crore (₹3,712 crore).Consolidated EBITDA was at ₹1,807 crore, representing an operating margin of around 52 per cent, the company said adding that the operating free cash flow was at ₹1,267 crore, up five per cent y-o-y. Meanwhile, the Board of Directors, in its meeting, declared an interim dividend of ₹2.30 per equity share of ₹10 each for 2020-21.The Board has fixed August 6 as the ‘Record Date’ for the purpose of ascertaining the eligibility of shareholders for the payment of interim dividend and the payment of interim dividend will be done on or before August 26, the company said.“The ongoing Covid-19 crisis has emerged as a significant global public health challenge while bringing economic activity to a virtual standstill in many countries. India is also witnessing an unprecedented crisis on account of the same. During this time, the telecom industry has been providing much needed support in the form of connectivity to the public at large,” Akhil Gupta, Chairman, Bharti Infratel Ltd, said. The resilience shown by 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, he added.Shares of Bharti Infratel closed at ₹194.55 apiece on Monday on the BSE, down 0.59 per cent from the previous close.

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