Bharti Q2 net loss at Rs129 cr

By SiliconIndia   |   Tuesday, 29 October 2002, 08:00 Hrs
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MUMBAI: Bharti Tele-Ventures Ltd, a leading Indian telecom service provider, on Tuesday posted its highest ever loss of Rs 129 crore ($26.6 million) for the second quarter but said it would be in profit in the next fiscal year.

In the same quarter a year ago, it reported a net profit of Rs 12 crore. "The analysts expect us to post a profit in the year 2004/05 (April-March) but I think we will be much ahead of that, definitely by next year," Sunil Bharti Mittal, Chairman, Bharti Tele-Ventures, was quoted as saying by a news agency.

The company expects that losses will start to come down dramatically from the coming quarter onward.

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