May 8, 2017 / 1:12 PM / 3 months ago

Bharti Infratel Q4 profit falls 17 percent, misses estimates

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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.Adnan Abidi /Files

REUTERS - Indian telecom tower company Bharti Infratel Ltd posted a 17 percent drop in its fourth-quarter consolidated net profit, missing analysts' estimate, hurt by higher expenses.

Consolidated net profit came in at 5.97 billion rupees ($92.83 million) in the quarter ended March 31, compared with 7.18 billion rupees a year earlier, the company said in a statement on Monday.

Analysts on average had expected a consolidated net profit of 6.99 billion rupees, according to Thomson Reuters data.

Consolidated expenses rose about 8.5 percent to 11.33 billion rupees.

($1 = 64.3100 Indian rupees)

Reporting by Samantha Kareen Nair; Editing by Subhranshu Sahu

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