Bharti Infratel slips 8% on disappointing March quarter results

Bharti Infratel shares slipped 8 per cent to Rs 278 in intraday trade on the BSE on Thursday after the company reported flat consolidated net profit at Rs 608 crore in March quarter due to a decline in revenue.

The consolidated revenue during the quarter slipped 2 per cent year-on-year (YoY) at Rs 3,600 crore against Rs 3,662 crore in the same quarter a year ago. Ebitda (earnings before interest, tax, depreciation and amortization) margin contracted 125 bps to 42.61 per cent from 43.86 per cent in previous year quarter.

Analysts, on an average, had expected a net profit of Rs 664 crore on revenue of Rs 3,708 crore for the quarter.