New Delhi, July 26 (IANS) Telecom tower company Bharti Infratel on Tuesday said its net profit for the first quarter of 2016-17 rose 71 percent at Rs 756 crore compared to Rs 442 crore posted during the corresponding quarter in 2015-16.
The company’s revenue during the first quarter stood at Rs 3,211 crore compared to Rs 3,003 crore during the same period in 2015-16, said a company statement.
“Indian telecom industry is going through consolidation, we believe this would be good for the industry in the long run as the sector would require large investments by the operators in future to cater to the ever increasing data demand,” it quoted Chairman Akhil Gupta as saying.
“We are also seeing some early signs of implementation of the government’s initiative on Smart City which we believe would provide opportunities to infrastructure companies like ours,” he added.
The total tower base of the company now stands at 89,352 units.