Indian telecommunications tower operator Bharti Infratel Ltd reported on Monday a 12 percent rise in quarterly profit on higher sales from leasing mobile masts to carriers. Bharti Infratel, majority owned by India's top telecommunications carrier Bharti Airtel Ltd, said consolidated net profit rose to 2.77 billion rupees ($45 million) for its fiscal second quarter ended September 30 from 2.48 billion rupees reported a year earlier.
Revenue rose five percent from a year earlier to 26.84 billion rupees, the New Delhi-based company said. At 11.03 am (0533 GMT), shares in Bharti Infratel were down 2.8 percent after the results in a Mumbai market that was up 0.2 percent. The stock is down 30 percent from its IPO price of 220 rupees.