Bharti posts Rs 255 M profit in Q4

Bharti posts Rs 255 M profit in Q4

By siliconindia staff writer   |   Wednesday, 23 April 2003, 07:00 Hrs
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NEW DELHI: Bharti Tele-Ventures Ltd, India's largest cellular services provider, said on Wednesday it swung to a profit in the fourth quarter on the back of higher subscribers and growing revenue.

Bharti, 16 per cent owned by Singapore Telecommunications, reported a profit of Rs 255.7 million ($5.4 million) in the fiscal fourth quarter ended March 31 compared with a loss of Rs 639.2 million in the year ago period.

Revenue for the January-March quarter for New Delhi-based Bharti surged 134 per cent to Rs 10.39 billion from Rs 4.44 billion.

Its shares gained as much as 7.9 per cent to Rs 36.25, but later retraced to Rs 33.95, still up 1.04 per cent outperforming the main index which was up 0.37 per cent.

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