January 18, 2018 / 4:41 AM / 6 months ago

BUZZ-India's Bharti Infratel hits 1-month low on disappointing Q3 results

** Shares of Bharti Infratel fall as much as 3.26 pct to 354.15 rupees, to their lowest in a month

** The telecom tower operator reported a 5.6 pct fall in Dec-qtr profit after market hours on Wednesday, which was below analysts’ estimates of 7.10 bln rupees

** Morgan Stanley, in a note, said a decline in profit after tax reflected higher interest costs and taxes, while smaller operators exiting/reducing their ops resulted in net tenancy decline of 6600 towers during qtr

** Earnings before interest, taxes, depreciation and amortization impact from exits could be reflected next qtr - Morgan Stanley

** Stock down 3.34 pct this year, as of Wednesday’s close

** Infratel among top pct losers on the broader NSE index

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