Home ECONOMY Bharti Airtel Q2 net profit zooms 170 percent

Bharti Airtel Q2 net profit zooms 170 percent

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New Delhi, Oct 30:

Bharti Airtel’s net profit for the second quarter (July-September) of the current fiscal soared 170 percent to Rs.1,383 crore helped by voice and data business growth, a company statement said here Thursday.

Bharti_AirtelThis is the highest quarterly profit since March 2011.

The consolidated revenues for the second quarter was Rs.22,845 crore, which is a growth of 7.1 percent. Consolidated mobile data revenues during the quarter stood at Rs.2450 crore, which is a growth of 66.7 percent year-on-year and that has contributed more than two-thirds of the incremental revenues.

“We continue to see strong momentum in mobile data which has grown by 74 percent in this quarter. Airtel’s pioneering 4G roll-out in 15 cities is now witnessing stronger customer acceptance.

“On the regulatory front, the recent TRAI recommendations on making more contiguous spectrum available in the upcoming auctions have the potential of transforming the industry. We believe that this is critical to realise the exciting vision of “Digital India” that the government,” said Gopal Vittal, managing director and chief executive officer, India and South Asia.

Headquartered in the national capital, Bharti Airtel has operations in 20 countries across Asia and Africa.

“I am delighted to note that mobile data revenues in Africa have grown by 57 percent y-o-y to clock $115 million in this quarter, which is now 10 percent of the total revenues. Our robust 3G networks have supported the doubling of data volumes y-o-y, and we have been gearing up for much more growth,” said Christian de Faria, MD and CEO, African operations.

(IANS)