Shares of Bharti Infratel
erased their morning gains and were trading lower on both indices in late morning trade on Thursday. The company, on Wednesday, reported that its consolidated revenue for the quarter ended December 2018 remained flat on a yoy basis.
Its net profit for the quarter, meanwhile, was up 10.8% yoy at Rs648cr.
Despite major co-location exits in the quarter and during the year due to consolidation in the telecom industry, the company has been able to achieve net profit and operating free cash flow growth of 11% and 13%, respectively, on yoy basis.
The return on equity (pre-tax and post-tax) also improved to 27.4% and 16.4% as against 24.7% and 14.6%, respectively, on a yoy basis.
Bharti Infratel Ltd share price is currently at Rs266.65, down Rs11.25, or 4.05%, from its previous close of Rs277.90 on the BSE. The scrip opened at Rs282.50 and has touched a high and low of Rs284.20 and Rs263, respectively.
The stock was among the top losers on the Nifty index.