Bharti Airtel Q4 net profit down 8 per cent at Rs2,055 crore
28 Apr 2010
India's biggest telecom company, Bharti Airtel Ltd, on Wednesday reported a decline of 8 per cent in consolidated net income at Rs2,055 crore for the fourth quarter ended 31 March 2010.
The company had a net income of Rs2,239 crore for the quarter ended March 2008-09, as per US accounting standards, Bharti Airtel said in a filing with the Bombay Stock Exchange.
During the quarter, the company's total revenues crossed the Rs10,000-crore mark for the first time, the filing added. Total revenues of the company rose to Rs10,056 crore for the quarter ended 31 March 2009-10, up 2 per cent from Rs9,825 crore in the same period last fiscal.
"Bharti Airtel continues to be strongly positioned in India despite a hyper competitive market," Bharti Airtel chairman and managing director Sunil Bharti Mittal said.
The board of the company has proposed a dividend of Rs1 per share of the Rs5 face value for the financial year 2009-10.
For the year ended 31 March, the company has posted a consolidated net income of Rs9,103 crore, a growth of 7 per cent from Rs8,470 crore in the same period last year. Total revenues of the company for the year rose to Rs39,615 crore from Rs36,962 crore in the previous fiscal.
Bharti had 137.6 million customers as of 31 March across India, Sri Lanka and Bangladesh. Bharti's customers increased 41 per cent over last year.
"We are confident of repeating our success story in Sri Lanka and Bangladesh by winning the hearts of customers in these countries," Mittal said.