Telecom tower company Bharti Infratel said consolidated revenue fell 5.6 percent to Rs 35,047 million as Covid-19 impacted its business for the quarter ended June 30, 2020.
Bharti Infratel’s consolidated revenue comprises of primarily revenues from co-locations of Bharti Infratel and 42 percent economic Interest in Indus and their energy billings.
Bharti Infratel’s total expenses were Rs 16,977 million, or 48.4 percent of revenues from operations.
The largest component of expenses was power and fuel, amounting to Rs 12,870 million. The other key expenses incurred were repair & maintenance (operations and maintenance costs of the network) of Rs 1,667 million and employee benefits expenses of Rs 1,337 million.
Bharti Infratel has 2,259 employees on consolidated basis and 1,256 employees on standalone basis. Indus Towers has 2,389 employees.
Bharti Infratel has owned and operated 42,339 towers with 75,435 co-locations in 11 telecom circles while Indus operated 127,291 towers with 235,192 co-locations in 15 telecom circles across India.
The Group incurred capital expenditure of Rs 1,913 million.
Net co-locations declined by 365 on consolidated basis and 280 on standalone basis, Bharti Infratel said. Gross exits were 1,228 on consolidated basis and 787 on standalone basis. This includes 3,474 co-locations on consolidated basis for which actual exits have not happened as at quarter end.
Bharti Infratel and Indus had average sharing factors of 1.79 and 1.85 per telecom tower.
Bharti Infratel also announced the resignation of DS Rawat as managing director and CEO of the company effective on August 3, 2020. Bharti Infratel will be appointing a new CEO shortly. Bharti Infratel will be managed by a senior management executive under guidance of its chairman for the time being.
Bharti Infratel also earlier appointed Pooja Jain as chief financial officer and key managerial personnel of the company effective on June 4, 2020.
