Bharti Airtel announces Q1 Results: Net down 28%

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Bharti Airtel announces Q1 Results: Net down 28%
Bharti Airtel: Quotes, News
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India's largest telecom operator Bharti Airtel today said its net profit declined nearly 28% from Rs 1681.6 crore to Rs 1215.2 crore in the quarter ended June 30, 2011.

Company's total revenues were up by over 38.6% from 12,244 crore to Rs 16,975 crore in the reporting quarter.

"Bharti Airtel has started this fiscal year on a stable note. Revenue growth has been steady across all geographies, with Africa recording a healthy sequential growth of approximately 6% and annual growth of 21%," Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal said in a statement.

EBITDA was up by 28.3% to Rs 5,706 crore.

Company's Income before income taxes was down by 17% from Rs 2,072 crore an year earlier to Rs 1,719 crore.

It reported a rise of 20% in its cash profit from operations from Rs 4,026 crore to Rs 4,851 crore.

In India, the Company"s efforts in the area of cost efficiencies have helped arrest the margin decline. The new customer facing organization in India will see more agile and responsive teams in action. This will also give a fillip to growth in value added services, broadband, digital TV and airtel money. Overall, 2011-12 promises to be an exciting year of transformation." Mittal said.

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