April 23, 2018 / 12:16 PM / 6 months ago

CORRECTED-India's Bharti Infratel Q4 profit misses on drop in tenancies

(Corrects average analyst estimate to 6.38 billion rupees from 6.87 billion rupees in paragraph 3)

April 23 (Reuters) - Indian telecom tower company Bharti Infratel Ltd on Monday posted a 1.6 percent rise in fourth-quarter profit, but missed analysts’ estimate, hurt by loss in tenancies as mobile carriers in the country either shut down or consolidated their operations.

The company's profit came in at 6.06 billion rupees ($91.24 million) in the quarter ended March 31, compared with 5.97 billion rupees a year earlier, the company said here

Analysts on average expected the company to post a profit of 6.38 billion rupees, Thomson Reuters data showed.

The company lost 22,134 co-locations during the year, Bharti Infratel added. ($1 = 66.4150 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sherry Jacob-Phillips

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