Financial Daily from THE HINDU group of publications
Wednesday, Jul 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jul 27, 2005 |
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Financial Performance Info-Tech - Financial Performance Corporate Results - Telecommunications Bharti Q1 net at Rs 510 cr; customer base up 57 pc Our Bureau
New Delhi , July 26 BHARTI Tele-Ventures Ltd has reported a 70 per cent growth in its net profit to Rs 510 crore for the first quarter ended June 30, 2005. As per the US GAAP (United States Generally Accepted Accounting Principles) consolidated results announced on Tuesday, the revenues for the quarter was Rs 2,517 crore, resulting in an EBITDA of Rs 941 crore. The cash profit from the operations of the company for the quarter was Rs 926 crore. Bharti had reported a profit of Rs 296 crore during the corresponding quarter last year and revenues of Rs 1,705 crore. "The new mobile operations of the company turned EBITDA positive on a consolidated basis, within one year of the launch of the first operation deriving the benefits from the economies of scale and an all-India footprint," said a press release. Bharti had approximately 1.32 crore subscribers comprising 1.23 crore mobile users and 9.35 lakh broadband and telephone customers as on June 30. This shows a 57-per cent increase in the total customer base over the corresponding period last year. Commenting on the results and performance, Mr Sunil Bharti Mittal, Chairman & Group Managing Director, Bharti Tele-Ventures Ltd, said, "The first quarter results of FY 2005-06 once again show strong growth by Bharti Tele-Ventures Ltd. Having broken into the $2-billion club last quarter, we are pleased to see the company leveraging its operational efficiencies, its execution ability and its all-India presence, which has enabled it to break the Rs 500-crore net profit barrier this quarter for the first time."
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