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New Delhi, Jan. 27

RIDING on a 75 per cent growth in subscriber base, telecom major Bharti Tele-Ventures Ltd on Thursday announced a profit of Rs 373 crore for the third quarter ended December 2004 compared to Rs 161 crore during the corresponding period previous year.

The consolidated revenues for the quarter touched Rs 2,153 crore, up by 70 per cent, the company said in a release.

The revenue for the nine-month period ended December 2004 was Rs 5,717 crore, up by 66 per cent on a year-on-year basis, while net profit touched Rs 1,002 crore, a growth of more than 200 per cent over the same period last fiscal.

The company's cash profit from operations grew 90 per cent to Rs 761 crore during the quarter, while incremental revenue for the third quarter almost equalled that of the first half. The consolidated results are as per International Financial Reporting Standard. As per Indian GAAP, the net profit of Bharti standalone is at Rs 26.17 crore for the third quarter against Rs 11 lakh in the same period a year ago. Non-consolidated revenue has increased from Rs 7.13 crore to Rs 14.1 crore. The company's subscriber base crossed 1-crore mark with an addition of more than 10 lakh customers in the third quarter.

(This article was published in the Business Line print edition dated January 28, 2005)
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