Strong growth momentum for Bharti Airtel as income grows by 21pc!

NEW DELHI, INDIA: Bharti Airtel Ltdannounced its audited US GAAP results for the fourth quarter and full year ended March 31, 2009. It has once again maintained its strong growth momentum.

The consolidated total revenues for the quarter ended March 31, 2009 of Rs. 9,825 crore grew by 26 percent and EBITDA of Rs. 4,001 crore grew by 23 percent on a year on year basis. The cash profit from operations of Rs. 3,788 crore grew by 25 percent over last year. The net income for the quarter ended March 31, 2009 was Rs. 2,239 crore, a growth of 21 percent over last year.

The revenues and net income for the full year ended March 31, 2009 was Rs. 36,962 crore and Rs. 8,470 crore, a growth of 37 percent and 26 percent, respectively, over the same period last year respectively.

Bharti had 9.66 crore subscribers, as on March 31, 2009, an increase in the total subscriber base of 50 percent over the corresponding period last year and maintained its leadership position through an improved market share of all India wireless subscribers at 24 percent as on March 31, 2009, up from 23.7 percent corresponding to the same period of last year.

Commenting on the results and performance, Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Ltd, said: “I am happy to share the results and performance for the year ended 31st March 2009. Bharti Airtel has had an excellent year with revenue growth of 37 percent. Our focus on rural penetration and customer affordability has been instrumental in delivering this strong growth. The India growth story continues, and we expect revival of the economy in the second half of this fiscal year. I have no doubts that the telecom sector will lead the economic revival and Bharti Airtel will be at the forefront. I am also delighted that the shareholder’s patience is being rewarded with the Board having decided to give a maiden dividend of 20% of face value for the year. Further Board has proposed sub-division (share split) of existing equity shares of Rs. 10/- each into two equity shares of Rs. 5 each."