Abhishek Securities

Telecom tower company Bharti Infratel, on Monday, reported a 12% rise in quarterly profit at Rs 277 crore on increase in sales from leasing mobile towers to service providers. In the corresponding quarter (July-September) last fiscal year, the company reported a profit of Rs 248 crore.     Bharti Infratel, which is majority owned by Bharti Airtel, reported revenue for the quarter at Rs 2,684 crore, a 5% increase as compared to Rs 2,556 crore for the same period last year, the company said in a statement.   “With regulatory environment in telecom sector showing signs of stabilizing and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters,” Bharti Infratel vice chairman and MD Akhil Gupta said.   Bharti Infratel’s business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure,...

The Telecom Commission has cleared state-run Telecommunication Consultants of India's plan to exit Bharti Hexacom, a subsidiary of Sunil Mittal-founded Bharti AirtelBSE 8.66 %, to raise cash to meet its capital expenditure needs. A board member of Telecommunication Consultants (TCIL) said the company will shortly appoint an independent advisor to recommend a reserve price for its 30 per cent stake in Bharti Hexacom. "If the new reserve price is cleared by Telecom Commission, the advisor will invite bids later this year from potential buyers of TCIL's 30 per cent holding in Hexacom," the board member told ET on condition of anonymity. Bharti Airtel, which has the first right of refusal, did not reply to ET's query on whether it is open to buying out TCIL's 30 per cent stake. Two years ago, consultant Deloitte had set a Rs 1,800-crore base price for TCIL's 30 per cent stake, which the then cabinet secretary KM Chandrasekhar had dismissed "as too ...