Tuesday, 9 May 2017

Bharti Infratel Q4 profit falls 17 percent, misses estimates

Indian telecom tower company Bharti Infratel Ltd posted a 17 percent drop in its fourth-quarter consolidated net profit, missing analysts' estimate, hurt by higher expenses. Consolidated net profit came in at 5.97 billion rupees ($92.83 million) in the quarter ended March 31, compared with 7.18 billion rupees a year earlier, the company said in a statement on Monday Analysts on average had expected a consolidated net profit of 6.99 billion rupees, according to Thomson Reuters data. Consolidated expenses rose about 8.5 percent to 11.33 billion rupees. 

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