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Bharti Infratel announces results for Q4 and FY 2018-19

Posted On: 2019-04-25 09:34:28

Bharti Infratel Limited ("Bharti Infratel" or "the Company") today announced its audited Consolidated Proforma results for the fourth quarter and full year ended March 31, 2019 (see note). The Consolidated revenue for the quarter was Rs. 3,600 Crore. Consolidated EBITDA was at Rs. 1,534 Crore, representing an operating margin of 42.6%. The Operating Free Cash Flow was at Rs. 1,154 Crore for the quarter. The net profit for the quarter was Rs. 608 Crore. Despite major co-location exits in the quarter and during the year due to consolidation in telecom industry, the Company has been able to maintain net profit at same level and report operating free cash flow growth of 14% on Y-o-Y basis. The Return on Equity pre-tax and post-tax was also maintained to 26.1% and 15.8% as against 26.1% and 15.4% respectively on Y-o-Y basis.

Highlights for the fourth quarter ended Mar 31, 2019

- Total Tower base of 92,277 with closing sharing factor of 1.87
- Consolidated Revenues at Rs. 3,600 Crore, down 2% Y-o-Y
- Consolidated EBITDA at Rs. 1,534 Crore, down 4% Y-o-Y
- Operating Free Cash Flows at Rs. 1,154 Crore, up 14% Y-o-Y
- Consolidated Profit after tax at Rs. 608 Crore, flat Y-o-Y

Highlights for the full year ended Mar 31, 2019

- Consolidated Revenues at Rs. 14,582 Crore, up 1% Y-o-Y
- Consolidated EBITDA at Rs. 6,073 Crore, down 6% Y-o-Y
- Operating Free Cash Flows at Rs. 4,237 Crore, up 1% Y-o-Y
- Consolidated Profit after tax at Rs. 2,494 Crore, flat Y-o-Y

The Board of Directors in its meeting held on 24th April 2019 declared a 2nd interim dividend of Rs. 7.50 per equity share of Rs. 10 each for financial year 2018-19.

Akhil Gupta, Chairman, Bharti Infratel Limited, said: "The year gone by saw major consolidation in the Indian telecom industry with four operators ceasing to exist either on account of mergers or outright shut down of operations. Between Bharti Infratel and Indus Towers, approximately 20% of opening co-locations were lost during the year translating to approximately 75,000 co-locations on an overall basis and approximately 40,000 co-locations on consolidated basis, mainly due to merger of Vodafone & Idea. However, despite such unprecedented loss of co-locations, the overall financial performance for the year and the quarter ended March 31, 2019 has only been marginally lower than last year. This is a testimony to a sound business model and our leadership position in the industry. We believe that with rapidly growing data demand, large network rollouts will be required, indicating strong potential for the company in coming years and we are already seeing some early signs of acceleration in network rollouts. We are fully prepared to exploit this potential and meet all requirements of our customers for speedy rollouts.

The merger process of Bharti Infratel and Indus Towers is on track and we hope that it would be completed in the next few months."

Shares of BHARTI INFRATEL LTD. was last trading in BSE at Rs.302.15 as compared to the previous close of Rs. 294.55. The total number of shares traded during the day was 64752 in over 943 trades.

The stock hit an intraday high of Rs. 303.95 and intraday low of 291.35. The net turnover during the day was Rs. 19351050.


Source: Equity Bulls

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