Bharti Tele Q2 net profit zooms 250%

BS 200 SCORECARD

Bharti Tele-Ventures, the country's largest cellular mobile service provider, reported a 250 per cent increase in consolidated net profit at Rs 334 crore for the quarter-ended September 2004, compared with Rs 93 crore in the corresponding period last year.

On a stand alone basis, the company reported a net profit of Rs 1.15 crore for the quarter ended September 2004 compared with Rs 11 lakh in the corresponding period last year.

Chairman and group managing director of Bharti Tele-Ventures Sunil Mittal attributed the growth in profit to optimal use of scale and size and innovative service offerings by the company.

The company's revenues in the second quarter of 2004-05 grew 63 per cent to Rs 1,860 crore compared with Rs 1,144 crore in the corresponding quarter last year.

The company's consolidated net profit for the first half of 2004-05 at Rs 630 crore surpassed the full year profit of 2003-04 at Rs 620 crore. The revenues for the first half also increased 63 per cent to Rs 3,564 crore.

Earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 86 per cent to Rs 701 crore during the quarter ended September 2004. Cash profit from operations increased 116 per cent to Rs 661 crore for the quarter ended September 2004.

Bharti Tele-Ventures, which offers telecom services in 19 out of the 23 telecom circles in the country, witnessed a year-on-year growth of 85 per cent in subscriber base at 95 lakh at the end of September 2004.

Bharti Tele-Ventures operates along with its three subsidiaries Bharti Cellular, Bharti Infotel and Bharti Mobile. The company has already got shareholders' node for merging these subsidiaries with the parent company.

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