Bharti Infratel, a telcom tower company, disclosed a steady growth in consolidated net profit for the quarter ended March 2015. During the quarter, the profit of the company rose 18.01% to Rs 5,575 million from Rs 4,724 million in the same quarter previous year.
Net sales for the quarter rose 6.21% to Rs 31,165 million, compared with Rs 29,344 million for the prior year period.
Akhil Gupta, chairman, Bharti Infratel, said, ''The spectrum auctions in March 2015 was a significant event for the Telecom industry. The leading operators have not only renewed their existing spectrum but also acquired new spectrum for next 20 years. Most of the new spectrum will be used for 3G and 4G rollouts in future. Since 2010, the operators have spent nearly USD 50 Bn on spectrum alone. The growth in data uptake and the need to monetize this investment at the earliest has already led to a step-up in the rollout of data networks. This momentum is expected to accelerate further in coming years. We are entering a phase of high growth and Bharti Infratel is aligned to the operator’s requirement of increased network rollouts.''
The board of directors proposed a final dividend of Rs 6.5 a share for the year ended Mar. 31, 2015. This is in addition to the interim dividend of Rs 4.5 a share already paid during the quarter ended Sep. 30, 2014. The total dividend payout for dividend will amount to Rs 24.77 billion.
The payment of proposed final dividend proposed is subject to approval of the shareholders in the ensuing annual general meeting of the company, the company added.
Shares of the company gained Rs 15.1, or 4.05%, to trade at Rs 388.25. The total volume of shares traded was 102,399 at the BSE (11.39 a.m., Monday).
