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Bharti Infratel Q4 Net up by 7% to Rs 650 crore.

Telecom tower and infrastructure provider Bharti Infratel posted a 7% growth in consolidated net profit for Q4 at Rs. 650 crore. The company’s net profit for the same period last year stood at Rs. 608 crore.

However, the company’s profit before tax dropped to Rs 866 crore during January-March quarter, down 14% from Rs. 1,001 crore recorded for the same quarter last year. 

Consolidated revenue grew by a mere 1% to Rs. 3,624 crore in the latest quarter, from Rs. 3,600 crore in the previous year. 

EBITDA grew at 12% to Rs. 1,721 crore (Rs.1,524 crore) with a operating margin of 47% during the current quater. Operating free cash flow was down by 27% on a year-on-year basis to Rs.847 crore (Rs.1,154 crore).

Bharti Infratel also announced that it has extended the deadline for the closure of its merger with Indus Towers to June. The deal, once completed, is expected to create the largest telecom tower company in the country and one of the largest in the world with around 165,000 towers across the country.

“Approval of Department of Telecommunications for FDI has been received on February 21, 2020. The long stop date for the Scheme has been extended by the Board of Directors till June 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme,” the company said in a statement accompanying the quarterly results. 

The postponement of the long stop date marks the fourth deadline extension for the merger, which was initially expected to complete in March last year.

The company also declared a third interim dividend of Rs.4.10 per equity share for the financial year 2019-20. The Company had earlier paid an interim dividend of Rs.3.65 per equity share during the September quarter and second interim dividend of Rs 2.75 per equity during December quarter. 

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