Bharti Airtel’s tower business unit Bharti Infratel Thursday reported a 64 per cent jump in its consolidated net profit at ` 472 crore for the quarter ended March 31, 2014, on the back of increased number of tenants on towers and other income.
The company, which Bharti Airtel has around 80 per cent stake, had reported a net profit of Rs 287 crore in the corresponding period last year.
Its revenue grew 4 per cent to Rs 2,790 crore for the reported period as compared to `2,674 crore in the same period last year.
Other income for the reported quarter was Rs 144.5 crore or 5.2 per cent of the consolidated revenue, representing primarily income arising out of investments and profit on sale of assets.
For the fiscal 2013-14, the company reported a net profit of Rs 1,518 crore as compared to `1,003 crore in the earlier fiscal while revenue were up by 5 per cent to Rs 10,827 crore as compared to `10,272 crore in the review period.