New Delhi, April 28
BHARTI Tele-Ventures Ltd has reported a 44 per cent increase in its net profit to Rs 437 crore in the fourth quarter ended March 31, 2005, compared to Rs 304 crore during the corresponding year-ago quarter. The revenues increased to Rs 2,317 crore during the quarter (Rs 1,553 crore).
The company posted a net profit of Rs 1,439.27 crore for the year ended March 31, 2005 as compared to Rs 619.46 crore a year earlier.
Its total revenues also increased to s 8,066.67 crore (Rs 5,037 crore).
Bharti plans to invest close to Rs 4,000 crore to expand its services in more towns and cities.
"We have invested Rs 17,000 crore till now. This year, we plan to pump in another about Rs 4,000 crore. Part of the investment will be in existing towns to decongest the traffic, while the rest of the money will go to toll out services in new towns and cities," Mr Sunil Bharti Mittal, Chairman and Managing Director, said.
On the proposed American Depository Receipt (ADR) issue, Mr Mittal said the company would now approach its shareholders for their participation in the process.