The customer base of Bharti Tele-Ventures Limited, owners of the Airtel brand, has crossed the 10-million mark and it has also joined a select group of companies in India to achieve the distinction of reaching the Rs 1,000-crore net profit mark.
Announcing its financial results for Q3, the company said that during the quarter October-December 2004, Bharti added more than one million customers on its networks, the highest-ever achieved in one single quarter. The company’s more than 10 million customers comprised 9.8 million mobile and 8 lakhs broadband and telephony customers, an increase in the total customer base of 75 per cent over the corresponding period last year. Bharti has maintained its leadership position with its market share of all-India GSM mobile subscribers standing at 26.3 per cent.
Commenting on the performance, Sunil Bharti Mittal, Chairman & Group Managing Director, Bharti Tele-Ventures, said, “Bharti’s strong performance during the third quarter of 2004-05 is a result of its resolve to be the most preferred provider of telecom services in the country. The roll out of our mobile services in J&K, West Bengal, Orissa, Bihar and Jharkhand has taken Bharti a step closer to an all-India footprint. We have also achieved the distinction of joining the worldwide club of select mobile operators having over 10 million mobile customers.”
Mittal added that to compliment the growth in the mobile business, “we have also initiated our expansion plans for our fixed line and broadband business in select towns and cities”.
The revenues for the nine-month period ended December 31, 2004 stood at Rs 5,717 crore, a growth of 66 per cent on year-on-year basis. The net profit for the first nine months was Rs 1,002 crore, a growth of more than 200 per cent, over the same period last year.