Airtel records revenue growth, profit slide

Global mobile services provider Bharti Airtel has disclosed a 17 percent growth in its second fiscal quarter revenue, the company has revealed.

Revenue peaked at 3.7 billion US Dollars attributed to the telecoms company’s 77 percent strong growth in India’s mobile data. It also recorded 26 percent growth in its Airtel business (B2B) package, another 26 percent rise in digital TV and expanded its presence in Nigeria, Ghana and other countries in Africa to 29 percent.

The report however showed that profit fell by about 33 percent as a result of what the company described as seasonal depression in India’s mobile voice revenues that has reduced the company’s net profit to $132 million, falling by about 30 percent.

The company is also blaming stiff competition in its various markets especially in Nigeria, Ghana and other highly competitive markets in Africa. However, despite of these competitions, the company said it is still focused on being the telecoms market leader through the development of its network such as 3G, expansion of its product distribution, and providing affordable pricing.

According to Airtel’s chairman and managing director Sunil Bharti Mittal, the company has recorded growth in its overall revenue in a seasonally weak quarter. He expressed his pleasure at sustained growth through diversified segments and geographies as well as the continuing healthy demand in data services in Africa.

“Our African operations continue to reflect sustained and steady growth on all major parameters of revenues, profitability and cash flow.

“As on September 30, 2012, our company had an aggregate of 262.6 million customers consisting of 251.8 million mobile, 3.3 million Telemedia and 7.5 million digital TV customers. Its total customer base as on September 30, 2012 increased by 11 per cent compared to customer base as on September 30, 2011,” Sunil said.

Posted in: Telecoms

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