Bharti Airtel's Q4 net up by 89 percent
Bharti Airtel posted 89 percent jump in net profit in the fourth quarter (January-March) on voice and data business growth, a company statement said here Tuesday.
The net profit for the fourth quarter stood at Rs.962 crore, up from Rs.509 crore posted during the corresponding period last fiscal (2012-13).
The total revenue of the company was up by 13.5 percent at Rs.22,219 crore during the fourth quarter from Rs.19,582 crore in corresponding period in 2012-13.
"The year has ended on a satisfying note, both in operational and financial terms.Network and spectrum investments, a refreshed IT strategy, innovative service platforms and an energised organisation will enable sustained growth in India and South Asia," Gopal Vittal, managing director and chief executive offcier, India and South Asia, said.
The company is present across 17 countries across Africa.
"The quarter was impacted by the seasonal downturn in parts of Africa and regulatory interventions in Nigeria. In the last year, we successfully integrated the acquired business in Uganda, and are confident that we will repeat the success in Congo. Our teams remain focussed on accelerating growth through improving the quality of network, growing the data business and expanding Airtel money base," Christian de Faria, managing director and chief executive officer, Africa, said.
(Posted on 29-04-2014)