India mobile phone giant Bharti rings up 100pc rise
Friday, 27 July 2007
NEW DELHI, July 26 (AFP): India's top mobile phone company, Bharti Airtel, said its first-quarter net profit doubled as customer numbers soared in the world's fastest-growing wireless market.
Net profit for the three months to June jumped 100 per cent to 15.12 billion rupees (375.2 million dollars) from the same period a year ago on revenues which climbed 53 per cent to 59.05 billion rupees.
"Bharti Airtel has maintained the growth momentum and further consolidated its market leadership in the wireless segment," Bharti chairman Sunil Bharti Mittal said in a statement.
"We believe the Indian telecom sector is entering the next phase of growth. We will continue to expand our network aggressively to enhance penetration in the rural markets and be at the forefront of this growth," he said.
In early trade, Bharti shares were down 14.60 rupees or 1.54 per cent to 940.90 while the benchmark Mumbai stock exchange Sensex index was up 57.88 points or 0.37 per cent to 15,757.21.
Net profit for the three months to June jumped 100 per cent to 15.12 billion rupees (375.2 million dollars) from the same period a year ago on revenues which climbed 53 per cent to 59.05 billion rupees.
"Bharti Airtel has maintained the growth momentum and further consolidated its market leadership in the wireless segment," Bharti chairman Sunil Bharti Mittal said in a statement.
"We believe the Indian telecom sector is entering the next phase of growth. We will continue to expand our network aggressively to enhance penetration in the rural markets and be at the forefront of this growth," he said.
In early trade, Bharti shares were down 14.60 rupees or 1.54 per cent to 940.90 while the benchmark Mumbai stock exchange Sensex index was up 57.88 points or 0.37 per cent to 15,757.21.