The three leading wireless telecommunications service providers in India by revenue - Bharti Airtel, Vodafone and Idea Cellular are the largest customers of Bharti Infratel. The company has been the industry pioneer in adopting green energy initiatives for its operations.
Q-o-Q consolidated results
For the quarter ended March 2019, sales fell 3% to Rs 1675.80 crore.
OPM fell 230 basis points to 45.1% which saw OP fall 8% to Rs 755.30 crore.
Other income fell 29% to Rs 18.60 crore. Interest income increased 31% to Rs 81.70 crore. Depreciation was down 4% to Rs 254.70 crore.
Thus PBT fell 14% to Rs 600.90 crore.
Share of profit in JV grew 21% to Rs 263.90 crore. Thus PBT after Share of profit in JV fell 6% to Rs 864.80 crore.
As tax decreased 5% to Rs 257.20 crore, PAT fell 6% QoQ to Rs 607.60 crore.
Y-o-Y results
On yoy basis, sales stagnated at Rs 1675.80 crore against Rs 1672.80 crore. OPM fell 550 basis points to 45.1% which saw OP go down 11%. PBT improved 10%.
Share of profit in JV fell 20% after which PBT after Share of profit in JV went down 1%. After providing for tax (down 4%), net profit stagnated at Rs 607.60 crore against Rs 606.00 crore.
FY 2019 consolidated results
In FY 2019, sales grew 3% to Rs 6826.20 crore.
OPM reduced 170 basis points to 45.6% which saw OP fall 1% to Rs 3112.10 crore.
Other income fell 4% to Rs 101.50. Interest income jumped 127% to Rs 387.70 crore and depreciation fell 10% to Rs 1065.80 crore.
Thus PBT increased 14% to Rs 2535.50 crore.
Share of profit in JV fell 22% to Rs 1017.20 crore. Thus PBT after Share of profit in JV improved 1% to Rs 3552.70 crore.
As tax increased 2% to Rs 1058.90 crore, PAT remained unchanged at Rs 2493.80 against Rs 2493.70 crore.
Valuation
The stock trades at Rs 270.
Bharti Infratel: Consolidated Results
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