Telecom tower infrastructure provider Bharti Infratel on Monday posted a decline of 21% in its consolidated net profit to ₹704 crore for the first quarter ended June 30, 2020. Consolidated revenue for the quarter stood at ₹3,505 crore, down 6% .
“The ongoing COVID-19 crisis has emerged as a significant global public health challenge while bringing economic activity to a virtual standstill in many countries. India is also witnessing an unprecedented crisis on account of the same. During this time, the Indian Telecom industry has been providing much needed support in the form of connectivity to the public at large,” Akhil Gupta, chairman, Bharti Infratel Limited, said.
He added that the resilience shown by the telecom industry as a vital service even in the wake of extreme exigencies like COVID-19, bears well for the future potential of our infrastructure industry. “We remain fully prepared in maintaining and strengthening our leadership position going forward,” he added. The board of directors of the company, at its meeting, declared an interim dividend of ₹2.30 per equity share of ₹10 each for the financial year 2020-21.
