Bharti Infratel Q2 net profit down 24% on year

New Delhi: Bharti group’s tower arm Bharti Infratel reported a net profit of Rs 733 crore for the second quarter this fiscal, marginally up 4% on-quarter but down 24% on-year basis, hurt by high net finance cost.

Infratel chairman Akhil Gupta on Thursday also announced the closure of the company’s long-standing merger deal with Indus Towers.

“In a major development relating to merger of Indus and Infratel, National Company Law Tribunal (NCLT) has given its approval to the aforesaid merger, which has been in process for a long time. The filing with Registrar of Companies (ROC) post final closing based on agreed closing adj