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Bharti Infratel Q4 net up 34%; to discuss tower sharing with RIL

NEW DELHI: Bharti Infratel, the tower arm ofBharti AirtelBSE 0.20 %, has reported a 34% increase in quarterly profits and said it will talk to Mukesh Ambani-owned Reliance Jio Infocomm for leasing out its towers.
"As a tower company, it is my job to go to every operator, existing as well as prospective. We would definitely be in talks with them and we would like to do more business with them,"
Bharti Infratel vice-chairman and managing director Akhil Gupta said on Tuesday. "At this moment no contract has been signed but we will approach them." 
Bharti Airtel, the country's largest telecom company, last week inked a deal to lease undersea cable capacity to Reliance Jio for its 4G services in the Asia-Pacific region. In a joint statement, the old rivals had said they would consider other mutual areas of cooperation and development. 
Gupta said the company was open to buying out other tower companies' assets but nothing was on the cards at the moment. 
Bharti Infratel's profit for the fourth quarter ended March rose 34.3% from a year ago to Rs 287 crore. Revenue for the quarter grew 11.3% to 2,674 crore compared with the same period a year ago. 
For the full year, the tower provider reported a profit of Rs 1,003 crore, up 33.8% from 2011-12.