Bharti Cuts Net Loss To Rs 7.1 Cr In Q3

New Delhi: | Updated: Jan 21 2003, 05:30am hrs
Bharti Televentures recorded an operating profit of Rs 240 crore for the quarter ended December 31 2002, which shows a sequential increase of 93 per cent and a year on year increase of 93 per cent. Accumulated losses as on December 31, 2002, stood at Rs 204 crore. The company had an operating profit for Rs 121 crores for the quarter ended September 2002 and Rs 124 crore as on December 31 2001. Revenue for the third quarter stood at Rs 847 crore, which shows a increase of 29 per cent over the previous sequential quarter (Rs 658 crore).

The companys quarter-on-quarter net loss came down came down by 95 per cent as the company registered a net loss of Rs 7.1 crore for the third quarter as compared to a net loss of Rs 129 crore for the quarter ended September 31 2002. The companys revenues for the last nine month period are Rs 2,043 crores, which have increased by 96 per cent on a year-on-year basis. For the nine-month period, it registered an operating profit of Rs 499 crores, which is a year on year increase of 71 per cent, a company release said.

Bharti chairman and group managing director Sunil Bharti Mittal said, We have been able to contain our expenses to the level of the previous quarter and hence significantly improve our profitability. Over the last three quarters, Bhartis mobile customer base doubled with 28 lakh customers as on December 31, 2002 compared to 13.5 lakh customers in March 31, 2002.