Bharti Airtel posts Rs 2,239 Cr profit for Q4

NEW DELHI, INDIA: India's leading mobile operator Bharti Airtel today reported a 20.85 per cent increase in net profit at Rs 2,239.30 crore ($446 million) for the fourth quarter ended March 31, 2009 compared to the same period in the previous year.

In a statement submitted to the Bombay Stock Exchange, Bharti Airtel said it had a net profit of Rs 1,852.90 crore in the same quarter of FY'08, under U.S. accounting standards.

The company's total revenue rose by 25.65 per cent to Rs 9,824.50 crore in the March quarter, from Rs 7,819.10 crore in the corresponding period in FY'08.

The revenues and net income for the full year ended March 31, 2009 was Rs. 36,962 crore and Rs. 8,470 crore, a growth of 37 per cent and 26 per cent over the same period last year respectively, said a press release.

Bharti Airtel added 8.3 million mobile users during the last quarter to boost its overall customer base to cross 9.66 crore. During the last year it added 3.24 crore customers.

Commenting on the results and performance, Sunil Bharti Mittal, chairman and managing director, Bharti Airtel, said, “Our focus on rural penetration and customer affordability has been instrumental in delivering this strong growth. The India growth story continues and we expect revival of the economy in the second half of this fiscal year.”

He said the Board has decided to give a maiden dividend of 20 per cent of face value for the year. Further the Board has proposed sub-division (share split) of existing equity shares of Rs. 10/- each into two equity shares of Rs. 5 each.