Bharti consolidated net rises 71% to Rs 543.53 cr

BS 200 SCORECARD

Bharti Tele-Ventures has posted a 71.14 per cent rise in consolidated net profit at Rs 543.53 crore in third quarter ended December 31, 2005, under the Indian GAAP, as against Rs 317.58 crore recorded during the same period of the previous financial year.

The company's total income rose to Rs 3,045.15 crore during the quarter under review, as against Rs 2,171.57 crore registered during the same period a year ago.

Under the US GAAP, the group has posted a net profit of Rs 545.33 crore during the quarter under review, an increase of 24.98 per cent, compared with Rs 436.33 crore recorded during the same period a year ago.

The company's total income rose to Rs 3,025.60 crore during the December quarter, an increase of 42 per cent from Rs 2,131.94 crore posted during the third quarter of the comparable fiscal, Bharti informed the BSE here today.

The company's net profit for the nine-month period ended December 31 was Rs 1,576 crore, an increase of 52 per cent from Rs 1,039 crore, while revenues for the period rose 45 per cent to Rs 8,252 crore from Rs 5,677 crore recorded in last financial year.

On a standalone basis, it has posted net profit of Rs 538.68 crore during the reporting quarter, compared with Rs 26.17 crore posted during the same quarter of previous financial year.

The company's total revenues rose to Rs 2,936.03 crore from 28.16 crore posted during the comparable quarter.

However, the standalone figures of this quarter are not comparable with that of the previous year's quarter as the company had merged two of its subsidiaries - Bharti Infotel and Bharti Cellular - with Bharti Tele-Ventures in this financial year.

Meanwhile, in a release issued today, Bharti said it has over 1.75 crore customers as on December 31. This is a 65 per cent increase in the total customer base over the corresponding period of last year. The company claimed that it has a leadership position in the wireless segment with a 21.6 per cent as on the end of the third quarter.

Bharti chairman and managing director Sunil Bharti Mittal said, "The Indian wireless market continued to expand and with offers likie lifetime validity, we have once again redefined the paradigms in the mobile industry. The commissioning of SEA-ME-WE-4 submarine cable network has further extended our global reach and we see a lot of opportunities in the data segment".

"Another important landmark was our strategic alliance with Vodafone. Along with SingTel, we now have two world-class partners, who will help Bharti grow into a truly global company," he added.