Bharti Infratel Q4 net profit jumps 64 percent

NEW DELHI Thu Apr 24, 2014 9:58am IST

An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi December 12, 2012. REUTERS/Adnan Abidi/Files

An advertisement for Bharti Infratel Limited's initial public offering (IPO) is seen posted on a wall as a roadside vendor selling magazines and newspapers waits for customers in New Delhi December 12, 2012.

Credit: Reuters/Adnan Abidi/Files

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NEW DELHI (Reuters) - Telecommunications tower operator Bharti Infratel Ltd(BHRI.NS) reported a 64 percent jump in its quarterly profit, beating estimates on higher revenue from leasing mobile phone masts to phone carriers.

Bharti Infratel, just under 80 percent owned by top Indian phone carrier Bharti Airtel Ltd (BRTI.NS), said consolidated net profit rose to 4.72 billion rupees ($77.5 million) for its fourth quarter ended March, from 2.87 billion rupees a year earlier.

Revenue rose 4 percent from a year earlier to 27.9 billion rupees.

Analysts on average had expected the company to report a net profit of 3.99 billion rupees on revenue of 27.88 billion rupees, according to Thomson Reuters I/B/E/S. ($1 = 60.8850 Indian Rupees)

(Reporting by Devidutta Tripathy; Editing by Tommy Wilkes and Anand Basu)

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