Plans to offload stake in tower business
NEW DELHI: Bharti Airtel on Wednesday said its net profit has registered an impressive 73 per cent increase in the second quarter ended September 30, 2007 at Rs. 1,614 crore, while total revenues stood at Rs. 6,337 crore, a rise of 45 per cent.
For the first half of the current fiscal, total revenues stood at Rs. 12,242 crore, a 49 per cent increase compared to the same period last fiscal, while its net income went up by 85 per cent to Rs. 3,126 crore.
Though Airtel’s average revenue per user (ARPU) declined to Rs. 366 during the second quarter from Rs. 438 in the same quarter last year, the minutes-usage per subscriber increased to 469 from 451 in the corresponding quarter last year.
Talking to reporters, Bharti Airtel President, Manoj Kohli, said they the company was planning to offload stake to financial and operating partners in its tower business.