Bharti Airtel posted 13.4 percent increase in revenue in Q2
2011-12 at $3.78 billion compared with $3.28 billion in Q2 previous year.
Profit plummeted by 38 percent to $225 million in Q2 2011-12
from $358 million in Q2 2010-11.
The substantial growth in revenue was primarily driven by Africa
and non-voice businesses.
Non voice revenues contributed $614 million to total revenue,
increasing at 30 percent.
Bharti Airtel‘s revenue from India and South Asia grew
to $2.77 billion, showing a growth of 11.7 percent.
Africa quarterly revenues crossed $1 billion, growing at 23
percent.
Mobile subscriber base grew by 21 percent in both India and
South Asia, and Africa regions.
The recent tariff increase in India has begun to take effect,
offsetting some of the inflationary and o other cost increases impacting the
entire industry.
Africa margins have shown a healthy improvement from 23.2
percent to 26.2 percent.
During the quarter, the US Dollar appreciated against the Indian
Rupee and several African currencies, resulting in forex restatement losses of
$52 million.
The rollout of 3G has resulted in higher amortization costs with
an impact of $36 million and increased net interest costs which are higher by
$25 million.
This year is progressing well for Bharti Airtel. India has
achieved double digit growth fueled by non voice businesses. The arrest of
continuously declining prices in India augurs well for the telecom industry. We
look forward to constructive deliberations on the draft National Telecom Policy
y 2011 and TRAI recommendations, for promoting the Government’s broadband vision
and viability of the sector,” said Sunil Bharti Mittal, chairman and managing
director, Bharti Airtel.
Africa has notched up strong revenue growth o of 23 percent.
The company has launched 3G services in Congo and airtel money in Zambia and
Kenya. We continue to expand our footprint across Africa, with our recent
acquisition of a 2G and 3G license in Rwanda,” Mittal added.
By Telecomlead.com Team
editor@telecomlead.com
