(Reuters) - Mobile masts operator Bharti Infratel Ltd said on Wednesday its net profit fell 5.6 percent in the third quarter, missing analysts’ estimates, pulled down by higher expenses.
Profit came in at 5.85 billion rupees ($91.57 million) in the quarter ended Dec. 31 compared with 6.20 billion rupees a year ago, the company said on Wednesday. bit.ly/2DfBJi4
Analysts on average expected the company, which is majority owned by Bharti Enterprises, to post a profit of 7.10 billion rupees, according to Thomson Reuters data.
Revenue from operations of the firm, which owns a stake in India’s biggest mobile tower company Indus Towers, rose nearly 11 percent to 16.97 billion rupees.
Revenue related to the company’s joint venture with Indus grew 4.7 percent to 19.59 billion rupees.
($1 = 63.8825 Indian rupees)
Reporting by Tanvi Mehta in Bengaluru, Editing by Sherry Jacob-Phillips