October 30, 2017 / 11:32 AM / a month ago

India's Bharti Infratel Q2 profit falls, lags street

Oct 30 (Reuters) - Indian telecom tower company Bharti Infratel Ltd reported a 17 percent drop in second-quarter profit, missing analysts’ estimate, as higher expenses weighed.

Profit after tax fell to 6.38 billion rupees ($98.40 million) in the quarter ended Sept. 30, from 7.74 billion rupees a year earlier, the company said on Monday. bit.ly/2gV9q2w

Analysts on average had expected the company, which is majority owned by Bharti Enterprises, to post a profit of 7.41 billion rupees, according to Thomson Reuters data.

Total expenses rose nearly 7 percent to 8.61 billion rupees.

$1 = 64.8375 Indian rupees Reporting by Tanvi Mehta in Bengaluru; Editing by Biju Dwarakanath

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