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Bharti Airtel Q1 net falls 28 pc; revenues up 38.6 pc

Bharti Airtel Q1 net falls 28 pc; revenues up 38.6 pc

Author | exchange4media News Service | Thursday, Aug 04,2011 10:08 AM

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Bharti Airtel Q1 net falls 28 pc; revenues up 38.6 pc

Bharti Airtel Ltd has posted a net profit of Rs 1,215 crore for the first quarter ended June 30, 2010, as against Rs 1,682 crore in the corresponding quarter of the previous fiscal, a fall of 28 per cent.

On the other hand, the consolidated total revenues for Q1 FY12 stood at Rs 16,975 crore, a growth of 38.6 per cent over last year.

In a statement issued, Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Ltd, said, “Bharti Airtel has started this fiscal year on a stable note. Revenue growth has been steady across all geographies, with Africa recording a healthy sequential growth of approximately 6 per cent, and annual growth of 21 per cent. In India, the company’s efforts in the area of cost efficiencies have helped arrest the margin decline. The new customer facing organization in India will see more agile and responsive teams in action. This will also give a fillip to growth in value added services, broadband, digital TV and airtel money. Overall, 2011-12 promises to be an exciting year of transformation.”

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