Wednesday, April 28, 2010

Bharti Q4 Results: Net Profit Down 8%

Bharti Airtel’s net profit for the fourth quarter declined 8.1 per cent as compared to its previous quarter as competition in the telecom industry weighed on its numbers.

Its consolidated net profit for the fourth quarter declined to Rs 2,055 crore from Rs 2,237 crore in the previous year, according to US accounting standards.

Its average revenue per user declined to Rs 220 per month from Rs 230 in the previous quarter.

The consolidated total revenues for the quarter ended March 31, 2010, declined 2.4 per cent to Rs. 10,056 crore from Rs.10,304 crore in the previous quarter.

Bharti has 137.6 mn customers, as on March 31, 2010, across India, Sri Lanka and Bangladesh, an increase in the total customer base of 41% over last year.

Akhil Gupta, MD of Bharti Enterprises and a director of Bharti Airtel, said that the temporary phase of irrational pricing is over in the sector and it expects close Zain transaction at the earliest.

Source: profit.ndtv.com

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