Home Economy Airtel’s third quarter profit zooms over 40 percent

Airtel’s third quarter profit zooms over 40 percent


New Delhi : Bharti Airtel Ltd, India’s largest mobile service provider, Wednesday posted a profit of Rs.17.22 billion ($437 million) for the third quarter (Oct-Dec 2007) of the current fiscal, an increase of 42 percent from the same period last year.

The company, which has a customer base of 57.34 million as of Dec 2007, posted consolidated revenues of Rs.69.64 billion, an increase of 42 percent against Rs.49.13 billion in the corresponding period of fiscal 2006-07.

“In the current quarter, Bharti Airtel has further consolidated its leadership position in the wireless market. We believe that the current growth momentum will receive further boost with our focus on setting new benchmarks in the market by driving affordability and availability,” Airtel chief Sunil Bharti Mittal said in a statement.

“With aggressive expansion plans particularly in rural India, we are in a strong position to continue leading the telecom revolution in the country.”

The firm’s market share rose to 23.6 percent during the quarter in one of the world’s fastest growing mobile services market adding seven to eight million users in a month.