Bharti Airtel announces results for Q4, full year

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Highlights for Full Year ended March 31, 2007

•     Overall customer base crosses 3.9 crore.

•     Highest ever-net addition of 1.8 crore customers in a year.

•     Market leader with a market share of all India wireless subscribers at 22.9% (20.4% last year).

•     Total Revenues of Rs. 18,520 crore (up 59% Y-o-Y).

•     EBITDA of Rs. 7,451 crore (up 72% Y-o-Y).

•     Cash Profit of Rs. 7,307 crore (up 79% Y-o-Y).

•     Net Profit of Rs. 4,257 crore (up 89% Y-o-Y).

 

Highlights for Fourth Quarter ended March 31, 2007

•     Highest ever-net addition of 53 lakh customers in a single quarter.

•     Total Revenues of Rs. 5,393 crore (up 58% Y-o-Y).

•     EBITDA of Rs. 2,241 crore (up 75% Y-o-Y).

•     Cash Profit of Rs. 2,193 crore (up 82% Y-o-Y).

•     Net Profit of Rs. 1,353 crore (up 98% Y-o-Y).

 

Bharti Airtel Limited ("Bharti" or "the company") today announced its US GAAP results for its fourth quarter and full year ended March 31, 2007. It has once again maintained its strong growth momentum.

The consolidated total revenues for the quarter ended March 31, 2007 of Rs. 5,393 crore grew by 58% and EBITDA of Rs. 2,241 crore grew by 75% on a year on year basis. The cash profit from operations of Rs. 2,193 crore grew by 82% over last year. The net profit for the quarter ended March 31, 2007 was Rs. 1,353 crore, a growth of 98% over last year.

The revenues & net profit for the full year ended March 31, 2007 was Rs. 18,520 crore and Rs. 4,257 crore, a growth of 59% & 89% respectively, on a year on year basis.

Bharti had over 3.9 crore customers, as on March 31, 2007, an increase in the total customer base of 86%, over the last year and maintained its leadership position through an improved market share of all India wireless subscribers at 22.9% as on March 31, 2007, up from 20.4% last year.

Commenting on the results and performance, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said, "The Indian telecom sector has witnessed an unprecedented growth this year led by the mobile segment. At Bharti Airtel, this has been a year of accelerated growth and market leadership, and we are delighted to be leading the telecom revolution in the country. The demand for the telecom services across all segments remains buoyant and we believe that this growth momentum can be sustained. We are confident that Bharti Airtel's professional management team with enhanced empowerment, backed by world-class product offerings is well placed to strengthen our leadership position in the market."

 

In line with emerging international practice, the Board of Directors has adopted a rotation policy for statutory and internal auditors for a maximum tenure of five years and rotation of audit partner every three years. Accordingly, they have recommended the appointment of S R Batliboi and Associates, Chartered Accountants, a member firm of Ernst & Young Global as statutory auditors at the conclusion of the forthcoming annual general meeting on 2 July 2007 and Ernst and Young as auditors for US GAAP for the financial year ending 31 March 2008. The Board has also proposed to appoint Price Waterhouse, Chartered Accountants as internal auditors after conclusion of their tenure as statutory auditors of the company.

 

Sourced From: Perfect Relations Limited