January 23, 2019 / 12:06 PM / a year ago

India's Bharti Infratel quarterly profit beats estimates

Jan 23 (Reuters) - Indian telecom tower company Bharti Infratel Ltd reported a 10.8 percent rise in third-quarter profit on Wednesday, beating market estimates.

Profit after tax came in at 6.48 billion rupees ($90.90 million) for the quarter ended Dec. 31, compared with 5.85 billion rupees a year earlier, the company said here

Analysts on average had expected a profit of 5.59 billion rupees, Refinitiv Eikon data showed.

The company, majority owned by telecoms carrier Bharti Airtel Ltd, merged its operations with Indus Towers last year amid a vicious price war in the world’s second-biggest market by mobile phone users.

Revenue from operations grew 2.2 percent to 17.33 billion rupees. ($1 = 71.2840 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

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