Bharti Infratel reports 21% drop in consolidated net profit at Rs 704 cr

Telecom infrastructure company Bharti Infratel on Monday reported a 21 per cent drop in its consolidated net profit to Rs 704 crore for the first quarter ended June.

The net profit had stood at Rs 887 crore in the corresponding quarter of previous year. The company had benefited from certain one-off gains with respect to operating expenses reversal and certain tax-related reversal.

The consolidated revenues for Q1 FY21 came in at Rs 3,505 crore, which was 6 per cent lower year-on-year.

The board of directors at its meeting held on July 27 declared an interim dividend of Rs 2.30 per equity share of Rs 10 each for the financial year 2020-21, the company said in a statement.