Bharti Infratel hits 52-week low on disappointing Q4 results

Bharti Infratel hit 52-week low of Rs 316, down 3.6% on the market in intra-day trade after telecom tower company reported a lower than expected 2% year on year (Y-o-Y) rise in consolidated net profit of Rs 6.06 billion in March quarter (Q4FY18).
Analysts on average expected the company to post a profit of Rs 6.77 billion for the quarter.

Revenue of the company during the quarter under review grew 4% at Rs 36.62 billion against Rs 35.20 billion in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, tax, depreciation and amortization) margin declined to 43.8% from 45% in previous year quarter.

“Due to loss of 22,134 co-locations during the year on account of five operators ceasing to continue either on account of shutting down operations or merging with others, the financial results for the quarter showed lower growth rates on a Y-o-Y basis,” Bharti Infratel said in a media release.