Bharti Infratel drops after muted Q4 financials
by Admin |24/04/2018
On the BSE, 62,000 shares were traded on the counter so far as against the average daily volumes of 76,000 shares in the past two weeks. The stock had hit a high of Rs 334.30 and a low of Rs 316.50 so far during the day. The stock had hit a 52-week high of Rs 481.90 on 17 October 2017 and a 52-week low of Rs 320.85 on 19 March 2018.
Bharti Infratel said that 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 Q4 March 2018 showed lower growth rates on a Y-o-Y basis.
Consolidated revenues rose 4% to Rs 3662 crore in Q4 March 2018 over Q4 March 2017. Consolidated EBITDA rose 1% to Rs 1606 crore. Consolidated EBIT rose 2% to Rs 1020 crore.
The company's board of directors recommended dividend of Rs 14 per equity share for the year ended 31 March 2018.
Akhil Gupta, Chairman, Bharti Infratel said that the year gone by saw unprecedented consolidation in the Indian telecom industry with five operators ceasing to exist either on account of mergers or outright shut down of operations.