Bharti Airtel Profits Up but Misses Expectations

­India's Bharti Airtel says that its 3rd-quarter net profits grew by 13% to Rs. 2,321 crore (US$493.8 million), while revenues were up by 9% to Rs.9,846 crore ($2.1 billion).

EBITDA of Rs. 4,142 crore grew by 12% on a year on year basis. EBITDA margins improved to 41.9% from 41.3% in the corresponding period of the previous year.

Bharti had 113.4 million customers, as on September 30, 2009, an increase in the total customer base of 42% over the corresponding period last year and a market share of all India wireless subscribers at 23.5%.

In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said "Bharti Airtel has once again demonstrated its strong fundamentals and its resilience. We continue to maintain our market leadership position in the Mobile segment, despite ever-increasing competitive intensity. I am pleased that the nascent DTH business is evolving towards leadership in several states, on the strength of a superior product and quality service. The Telemedia and Enterprise segments have created new revenue streams, especially in the data business. In the near term, we are ready to face the challenges posed by heightened competition. We are confident of emerging winners through our superior offerings by way of robust network, innovative services, far-reaching distribution, world-class partners, motivated employees and a strong balance sheet".

Posted to the site on 30th October 2009