Bharti Q2 EBITDA crosses Rs 1,000 crores

NEW DELHI: Bharti Tele-Ventures Ltd today announced its un-audited results for the second quarter and half year ended September 30, 2005, as per US GAAP.

It reported consolidated revenues for the quarter ended September 30, 2005 of Rs. 2,709 crores, up 46% Y-o-Y and EBITDA of Rs.1,021 crores, an increase of 47%.

The net profit during the quarter was Rs. 521 crores, up 43% from Rs. 364 crores reported during the corresponding quarter of last year.

The revenues & net profit for the first half ended September 30, 2005 was Rs. 5,226 crores and Rs. 1,031 crores, a growth of 47% and 71% respectively, over the same period last year.

Bharti had approximately 1.51 crores customers, as on September 30, 2005, an increase in the total customer base of 60%, over the corresponding period last year. It maintained its leadership position with a market share of all India wireless subscribers at 21.8% as on September 30, 2005.

Commenting on the results and performance, Sunil Bharti Mittal, chairman & group managing director, Bharti, said, “We are in an exciting phase where the telecom sector has witnessed unprecedented growth this quarter. I am pleased that Bharti has reinforced its leadership position by showing robust growth and performance yet again. We owe our continued high-performance to our customer-centric focus and approach. Our ability to leverage economies of scale has also helped us provide value to our customer. Bharti's relentless focus on innovation will continue unabated as will our commitment to the highest quality standards that ensure deep loyalty from our customers.”