Thursday, January 22, 2009

Bharti Airtel Limited Q3FY 2009: Rural Coverage Crosses 4 Lac Villages; Revenues Exceed Rs 9,600cr

Highlights for Third Quarter ended December 31, 2008

-- Overall customer base at 8.83 crore
-- Highest ever-net addition of 82.82 lakh customers in a single quarter
-- Market leader with a market share of all India wireless subscribers at 24.7%
-- Total Revenues of Rs. 9,633 crore (up 38% Y-o-Y)
-- EBITDA of Rs. 3,945 crore (up 33% Y-o-Y)
-- Cash Profit of Rs. 3,755 crore (up 30% Y-o-Y)
-- Net Income of Rs. 2,159 crore (up 25% Y-o-Y)

Bharti Airtel Limited (Bharti Airtel" or 'the company") today announced its audited US GAAP results for the third quarter and nine months ended December 31, 2008. It has once again maintained its strong growth momentum.

The consolidated total revenues for the quarter ended December 31, 2008 of Rs.9,633 crore grew by 38% and EBITDA of Rs. 3,945 crore grew by 33% on a year on year basis. The net income for the quarter ended December 31, 2008 was Rs. 2,159 crore, a growth of 25% over last year.

Bharti had 8.83 crore subscribers, as on December 31, 2008, an increase in the total subscriber base of 54% over the corresponding period last year and maintained its leadership position through an improved market share of all India wireless subscribers at 24.7% as on December 31, 2008, up from 23.6% corresponding to the same period of last year.

Commenting on the results and performance, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said "Bharti Airtel continues to lead the telecom growth story adding customer and revenue market share despite intense competition. Bharti's strategy of extensive roll out ahead of competition, especially in new villages, has yielded rich dividends. Our launch in Sri Lanka has received a huge response and despite coming in as the 5th operator we hope to be in a leadership position in the coming years. The customer response to the launch of our world class DTH and IPTV services has been encouraging. Bharti Airtel is well placed to capitalize on the huge telecom opportunity that India offers."

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