Bharti Q4 net zooms 44%

By agencies   |   Thursday, 28 April 2005, 07:00 Hrs
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NEW DELHI: Bharti Tele-Ventures Ltd., India's top listed mobile services firm, said on Thursday quarterly profit jumped robust 44 percent as it built a nationwide footprint in the world's fastest growing cell phone market.

Its fourth quarter revenue was 4.37 billion, up from 3.04 billion in the corresponding quarter of the previous fiscal.

The net profit for FY05 is up a whopping 132 percent to 14.39 billion. The telecom major's operating profit for the reporting quarter has soared to Rs 9.05 billion.

The EPS for FY05 stands at 7.77. The Q4 sales are at 23.17 billion, up 49 percent from Rs 15.53 billion.

The company, offering various services, including cellular, basic and long distance, crossed total revenue of 8 billion during the year, Chairman and group Managing Director, Bharti Televentures, Sunil Bharti Mittal said.

The company offers mobile services in 23 circles and fixed line services in seven circles. Mittal said the company aims to have a mobile subscriber base of 10 million.

New Delhi-based Bharti’s market value is $8.57 billion that makes it India's fifth-largest listed company. Bharti, 28 percent owned by SingTel had earlier this month said its mobile user base jumped 69 percent year-on-year in March to 10.98 million customers, while total subscribers, including fixed-line users, rose 65 percent to 11.8 million.

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