The Hindu Business Line : Bharti Q2 net zooms to touch Rs 334 cr

BHARTI Tele-Venture's net profit for the first six months of the current financial year has zoomed 407 per cent to Rs 630 crore, compared to Rs 124 crore during the corresponding period last year.

The company had netted a total profit of Rs 620 crore for the full financial year ended March 31, 2004.

Bharti clocked total revenues of Rs 3,564 crore during the April-September period of this year.

This was over Rs 2,180 crore during the corresponding period last year - a 63 per cent increase year-on-year.

In the second quarter of 2004-05, Bharti reported a 258 per cent increase in net profits at Rs 334 crore, compared to Rs 93.39 crore last year.

Revenues in the second quarter also went up by 63 per cent to Rs 1,860 crore compared to Rs 1,144 crore last year.

Cash profits from operations during the first half increased to Rs 1,201 crore from Rs 532 crore recorded during the corresponding previous period.

The increase in profits has been attributed to an 85 per cent increase in the subscriber numbers over the last one year.

The subscribers' base grew from 5.1 million in September 2003 to 9.4 million in September 2004, according to the company.

The mobile subscriber base has grown 88 per cent to touch 8.7 million, accounting for about 25 per cent of the market share.

Bharti's broadband and fixed-line telephone services subscriber base has gone up by 54 per cent to about seven lakh users.

Commenting on the performance, Mr Sunil Mittal, Group Chairman and Managing Director, said: ``Bharti's strong performance both in the second quarter and the first half has once again demonstrated its ability to maximise the full benefits of scale and size.''

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