New Delhi: Tower firm Bharti Infratel on Thursday reported a 64 per cent jump in its net profit at Rs. 472 crores for the quarter ended March 31, 2014.
The company had reported a net profit of Rs. 287 crores in the corresponding period last year.
The revenues of the company grew 4 per cent to Rs. 2,790 crores for the reported period as compared to Rs. 2,674 crores in the same period last year.
"The regulatory environment in telco sector has improved significantly post the spectrum auctions conducted in February 2014. Operators have made large investments, primarily for data networks. We believe that faster roll-out of networks will happen over the coming years to monetise these investments," Bharti Infratel Chairman Akhil Gupta said in a statement.
For the fiscal 2013-14, the company reported a net profit of Rs. 1,518 crores as compared to Rs. 1,003 crores last time.
Full year revenues were up by 5 per cent to Rs. 10,827 crores as compared to Rs. 10,272 crores.
In March, Reliance Jio Infocomm signed an agreement with Bharti Infratel to utilise the latter's tower infrastructure.
The companies have signed a master services agreement and pricing would be at 'arm's length,' based on prevailing market rates, a joint statement by the two companies said.
"Under the agreement, Reliance Jio would utilise the telecom tower infrastructure of Bharti Infratel to launch its services across the country," it added.
According to sources, Reliance Jio, the telecom arm of Reliance Industries is likely to launch its 4G services by September this year starting from Delhi and Mumbai.
"This agreement is in line with our earlier comprehensive telecom infrastructure sharing arrangement with Bharti Airtel Limited aimed at avoiding duplication of infrastructure, wherever possible, and to preserve capital and the environment," Reliance Jio MD Sanjay Mashruwala said.