Bharti Airtel has posted a 48 percent rise in its quarterly profit, beating forecast, as it expanded its network coverage. Consolidated profit for the quarter rose to 7.55 billion rupees in the fiscal first quarter to end-June from 5.1 billion a year ago. Analysts on average had forecast profit of 7.15 billion rupees.
Sales for the same period were 38.56 billion rupees and its EBITDA rose to 39 percent from 37.4 percent a year ago.
"The company has started the year well with strong operational and financial performance. We are confident that the growth momentum will be sustained," Bharti Chairman Sunil Mittal said in a statement.
Bharti plans to spend about USD 2 billion on expansion in the current fiscal year to March 2007, in a move to extend its reach across the country and boost margins.
Bharti said it was confident of maintaining its GSM mobile market share. The firm said earlier this month its mobile base rose 88.2 percent to 23.07 million users.
print
save
email
comment
Copyright @ 2004 Software & Support Media
Powered By Media Teknologi Informasi Corp.
Privacy PolicyTerms of Use
