Bharti Infratel reports 31% rise in net profit at Rs 254 crore

Bharti Infratel reports 31% rise in net profit at Rs 254 croreBharti Infratel, the cellular business of Bharti Airtel, said that its net profit has risen 31 per cent to Rs. 254 crore during the third quarter of the year compared to the same quarter of the previous year.

The company had recorded a net profit of Rs. 194 crore during the third quarter of the previous financial year. The company's total operational revenues increased 8 per cent to Rs. 2,626 crore during the third quarter from October to December, 2012 compared to Rs 2,424 crore recorded in the same quarter of 2011.

Bharti Infratel said that its operating free cash flow fell 2 per cent to Rs. 549 crore during the third quarter of the financial year compared to Rs. 562 crore recorded during the October - December quarter of 2011. The fall was mainly due to increased capital expenditure during the quarter.

The company had managed to raise Rs. 4,200 crore through an initial public offering (IPO) during the previous year. The company will use the funds raised to install new towers and replace existing towers in its wide network.

The shares of the company opened at Rs. 210 and fell to a low of Rs. 201 on the National Stock Exchange (NSE).