Bharti beats forecasts with 48% profit boost

26 Jul 2006

Indian telco Bharti Airtel has again beaten forecasts to post a 48% hike in quarterly profits as user numbers surged one of the world’s fastest growing telecoms market. Airtel (formerly Tele-Ventures) is the holding company for domestic group Bharti Enterprise’s telecoms interests, and offers a full range of services. The operator said consolidated net profit rose to INR7.55 billion (USD161.1 million) for its fiscal first quarter ended 30 June, up from INR5.1 billion a year earlier, on the back of a 53% rise in revenues to INR38.56 billion. Mobile revenues amounted to INR28.4 billion, up 63%, whilst broadband and fixed telephony turnover was up 52% to INR5.18 billion. EBITDA rose 60% to INR15.02 billion.

Airtel, 30.84% owned by Singapore Telecommunications (SingTel), said its mobile subscriber base reached 23.07 million at the end of June. Its broadband customers totalled 383,000, making up more than a quarter of its fixed line base.

India, Bharti Airtel