The Hindu : Business : Bharti first quarter net up 34 %

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Friday, Jul 25, 2008
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Business

Bharti first quarter net up 34 %

Special Correspondent

NEW DELHI: Maintaining strong growth momentum, leading mobile operator Bharti Airtel on Thursday posted a 34 per cent rise in its net profit at Rs. 2,025 crore for the first quarter of 2008-09, while its consolidated total revenues for the quarter stood at Rs. 8,483 crore, a growth of 44 per cent.

Bharti had 7.17 crore subscribers as on June 30, 2008, an increase in the total subscriber base of 61 per cent over the corresponding period last year.

It also maintained its leadership position through an improved market share of all India wireless subscribers at 24.2 per cent as on June 30, 2008, up from 23.1 per cent corresponding to the same period of last year. The company is maintaining its guidance for standalone capital expenditure of over Rs. 10,583 crore ($2.5 billion) for the full year till March.

Commenting on the results and performance, Bharti Airtel Chairman & Managing Director Sunil Mittal said: “It has been another quarter of leadership consolidation for the company.

“On the mobile side, it has been a particularly strong quarter with monthly customer adds crossing the 25-lakh mark.”

About resuming alliance talks with South African telecom giant MTN, Bharti Airtel Joint Managing Director and Group’s Chief Financial Officer Akhil Gupta said it was for the MTN to decide.

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