Bharti Airtel posts Rs2,321 crore Q2 net profit
30 Oct 2009
Bharti Airtel Ltd on Friday reported lower than expected 13 per cent growth in net profit in its second quarter as increasing competition pushed down key operational parameters.
The company, which is the biggest player in the Indian telecom space, said it expects stiff competition from existing players and new entrants to impact revenue and profit growth over the short term.
The three months ended 30 September have seen Bharti Airtel's net profit, rise to Rs2,321 crore from Rs2,046 crore from a year earlier.
Total revenue increased 9.2 per cent to Rs9,846 crore from Rs9,020 crore with Bharti adding an overall 8.24 million customers.
Both net profit and revenues fell short of expectations.
The telco, 30 per cent owned by Singapore Telecommunications Ltd, competes with Reliance Communications, Vodafone's local arm and state-run Bharat Sanchar Nigam Ltd for a share of the world's second-largest mobile phone market, which logged 456.74 million users at the end of August.
