The findings of the June quarter of Bharti Infratel Ltd impressed investors. In early deals on Thursday, the inventory was the largest gainer among Nifty stocks. For the first time in a year, consolidated income rose by 1%. Lower fuel, other expenditures and modifications in accounting standards mean operating profit jumped 28% from a year ago, boosting return ratios.
"Rental EBITDA increased sharply by 6 percent due to better rental income and an enhancement in the margin of 60 basis points," said Motilal Oswal Financial Services Ltd in a note. Key parameters, more importantly, indicate indications of stabilization. Revenue per tower per month and income per client per month increased significantly from the quarter of March. Even the closing sharing factor that suggests tenancy has stabilized in the June quarter and has been on a constant decrease.
"The core working efficiency of Bharti Infratel was better due to better than expected rental revenue, while margins were better than our expectations for reduced repair and maintenance expenditures," said ICICI Direct Research in a note to its customers.
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