MTNL and Bharti Airtel report net profits up and down respectively

31 Oct 2008

Indian telco Bharti Airtel’s figures released today show a 27% rise in net profit to INR2.05 billion (USD40.5 million) in the quarter, up from INR1.61 billion in 2007, citing record customer additions as a core factor for the positive results. Over the quarter Bharti added 8.21 million new subscribers, the most ever for the operator in a single quarter, bringing the total customer base to 79.9 million, 57% higher than last year. As a result of the additions, revenues for the operator also climbed significantly year-on-year, reaching INR90.2 billion, a 42% increase.

State-owned operator Mahanagar Telephone Nigam Ltd (MTNL) meanwhile has revealed a minor fall in net profit of 1.38% to INR918.6 million (USD18.1 million) for the three months ended 30 September 2008, attributing the drop to ‘stiff competition from other operators’ whilst also highlighting the fact that its operations are in the highly saturated circles of Delhi and Mumbai. Revenues for the operator rose by a marginal 1% year-on-year, reaching INR12.04 billion, whilst reporting that over the quarter it added 240,066 cellular subscribers and 19,631 broadband customers.