July 25, 2018 / 1:26 PM / 4 months ago

Bharti Infratel first-quarter profit falls

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/File Photo

(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

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