(Reuters) - Indian telecom tower company Bharti Infratel Ltd’s first-quarter profit fell 3.9 percent, hurt by higher expenses and exits from co-location sites where a tower is used by more than one wireless carrier.
Profit fell to 6.38 billion rupees ($92.82 million) for the quarter ended June 30, from 6.64 billion rupees a year earlier, the company said here
Analysts on average expected the company to post a profit of 6.01 billion rupees, according to Thomson Reuters I/B/E/S.
Consolidation in the industry led to co-location exits of 26,743 in the last 12 months.
Revenue from operations rose 6.5 percent to 16.97 billion rupees.
($1 = 68.7350 Indian rupees)
Reporting by Aby Jose Koilparambil and Chris Thomas in Bengaluru