Bharti Tele-Ventures posts Rs 630 crore net profit in H1

New Delhi | Updated: Oct 29 2004, 05:30am hrs
Private telecom operator Bharti Tele-Ventures Ltd announced a net profit of Rs 630 crore for the first six months of the current financial year, surpassing the whole of last years (2003-04) profit of Rs 620 crore.

The consolidated revenues for the quarter ended September 30, 2004, of Rs 1,860 crore grew by 63%. EBITDA of Rs 701 crore grew by 86% and cash profit from operations of Rs 661 crore grew by 116% over the corresponding period last year.

The net profit during the second quarter ended September 30, 2004 was Rs 334 crore, which increased from Rs 93 crore during the corresponding quarter of last year, a growth of more than 250%.

The revenues and net profit for the first half ended September 30, 2004 was Rs 3,564 crore and Rs 630 crore, a growth of 63% and more than 400% over the same period last year.

Commenting on the performance, Bharti group chairman and managing director Sunil Mittal said, Bhartis strong performance both in the second quarter and first half has once again demonstrated its ability to maximise the full benefits of scale and size.

Bharti had approximately 95 lakh subscribers comprising 87 lakh mobile and 7.6 lakh broadband and telephony customers, as of September 30, 2004, an increase in the total customer base of 85% over the corresponding period last year.