The Hindu Business Line : Bharti Tele posts Rs 161-cr Q3 net

BHARTI Tele-Ventures has posted a net profit of Rs 161 crore for the third quarter of the current fiscal as against a loss of Rs 7 crore in the corresponding previous period.

With this, the company has posted profits for the fourth quarter running and expressed confidence that operating margins had room to grow further.

As per the unaudited results, while total revenues increased by 50 per cent to Rs 1,269 crore (Rs 847 crore), operating profits grew by 97 per cent to Rs 473 crore (Rs 240 crore).

According to an official statement, cash profits increased by 143 per cent to Rs 400 crore (Rs 164 crore). Operating efficiencies have lead to an improvement in its EBITDA margin (EBIDTA/Revenues) for the quarter to 37 per cent, up from 28 per cent earlier.

For the nine-month period ended December 2003, profit stood at Rs 286 crore compared to a loss of Rs 204 crore earlier.

Revenues at Rs 3,449 crore saw an increase of 69 per cent from Rs 2,043 crore earlier. EBITDA improved by 128 per cent on a year-on-year basis to Rs 1,138 crore for the nine months ended December 31 from Rs 499 crore.

Mr Sunil Mittal, Chairman and Group Managing Director, said: "The performance has once again demonstrated our ability to deliver financial performance on sustainable basis."