Bharti Infratel shares slump over 3% post Q1 earnings

Shares of telecom infrastructure firm Bharti Infratel on Tuesday declined over three percent after the company reported a 21 percent drop in consolidated net profit for the April-June quarter.

At the BSE, it declined 3.44 percent to Rs 187.85.

The stock went lower by 3.34 percent to Rs 187.75 on the NSE.

Bharti Infratel on Monday reported a 21 percent drop in consolidated net profit to Rs 704 crore for the April-June quarter.

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