Bharti Infratel Ltd's Q1FY20 consolidated net profit rises 39.0% yoy to Rs887cr: Beats Estimates

The company’s consolidated revenue stood at Rs3,712cr, up 1.0% yoy and 3.1% qoq.

Jul 24, 2019 09:07 IST India Infoline Research Team

Bharti Infratel Ltd Q1FY20

Consolidated Results Q1FY20: (Rs. in cr)

Q1FY20 YoY (%)
Revenue 3,711.90 1.0
EBITDA 1,952.80 60.0
EBITDA Margin (%) 52.6 1,939
Net Profit (adjusted) 887 39.0
***EBITDA margin change is bps
Bharti Infratel reported a good set of numbers for Q1FY20. Consolidated revenue grew by 1.0% yoy to Rs3,712cr against median consensus estimates of Rs3,559cr. Reported EBTDA came in at Rs1,953cr, up 60% yoy against estimates of Rs1,418cr. Reported EBITDA margin expanded by ~1,940bps yoy to 52.6%. Consolidated net profit grew by 39% yoy to Rs887cr against median estimate of Rs584cr.
  • The reported EBITDA is higher yoy on account of adoption of Ind AS 116 (leases). Without the impact of IND AS 116, the revenue at Rs3,630cr would have been 1.2% yoy lower. EBITDA would have been higher by 2% yoy at Rs1,557cr and EBITDA Margin would have expanded by ~150bps yoy to 42.9%. Similarly, PAT would have increased by 32% yoy to Rs843cr.
  • Total revenue and adj. EBITDA were higher despite decline in total co-locations. Co-locations declined from 200,778 in Q1FY19 to 173,247 in Q1FY20.
  • Average Sharing factor declined from 2.22 in Q1FY19 to 1.87 in Q1FY20. Closing Sharing factor declined from 2.19 to 1.87 yoy.
  • Rental per tenant per month improved Rs35,276 in Q1FY19 to Rs42,591 in Q1FY20.




Technical View:

Bharti Infratel Ltd is currently trading at Rs. 263.40, up by 1.6 points or 0.61% from its previous closing of Rs. 261.80 on the BSE.
The scrip opened at Rs. 262.40 and has touched a high and low of Rs. 266.45 and Rs. 260.75 respectively. So far 24,14,804 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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