Bharti Infratel shares slump over 3% post Q1 earnings

New Delhi: Shares of telecom infrastructure firm Bharti Infratel on Tuesday declined over 3 per cent after the company reported a 21 per cent drop in consolidated net profit for the April-June quarter. On BSE, the stock declined 3.44 per cent to Rs 187.85.

The scrip slipped 3.34 per cent to Rs 187.75 on the NSE.

Bharti Infratel on Monday reported a 21 per cent drop in consolidated net profit to Rs 704 crore for the April-June quarter.


The net profit stood at Rs 887 crore in the corresponding quarter of previous year, when the company had benefited from certain one-off gains with respect to operating expense reversal and certain tax-related reversal.

The company's board has also accepted the resignation of D S Rawat as Managing Director and CEO with effect from August 3, 2020.

The consolidated revenues for the first quarter of FY20-21 came in at Rs 3,505 crore, down 6 per cent YoY.