Bharti Airtel's Q1 profit up 73 percent

Thursday, 26 July 2007, 07:00 Hrs
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New Delhi: Bharti Airtel, India's leading private mobile service operator, Thursday registered a net profit of 14.12 billion in the first quarter (Q1) of the current fiscal (2007-08), an increase of 73 percent from 8.14 billion last year.

The company also reported total revenues of 56.91 billion for the period compared to 37 billion during Q1 of 2006-07.

"Bharti Airtel has maintained the growth momentum and further consolidated its market leadership in the wireless segment. We believe that the Indian telecom sector is entering the next phase of growth," said Sunil Bharti Mittal, the chairman and managing director of Bharti Airtel Ltd.

"We will continue to expand our network aggressively to enhance penetration in the rural markets and be at the forefront of this growth," he added.

The company recently awarded multi-billion dollar contracts to global telecom vendors such as Nokia-Siemens and Ericsson to expand its network more rapidly and rollout its services to rural areas.

During the period ended June 30, 2007, Bharti Airtel (Singapore) Private Limited was incorporated as a wholly owned subsidiary of the company with the principal business of providing third party telecom services and value added services.
Source: IANS
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