Bharti Airtel has released its fourth quarter and year-end results, revealing 106 per cent growth in profit for the quarter as compared to Q4 2013, and 63 per cent growth for the year.
The company said profit before tax for the quarter ending March 31, 2014 came to INR25.38 billion (US$421 million), up 106 per cent on the previous year’s corresponding figure, while for the full year profit before tax was up 63 per cent on year-end 2013 at INR78.1 billion (US$1.29 billion).
Total revenues for Q4 grew 13.5 per cent year on year, reaching INR222.19 billion (US$3.68 billion), and total revenues for the year came to INR857.46 billion (US$14.2 billion) – showing 11.5 per cent growth as compared to year end 2013.
International revenue growth of 17.2 per cent for the fourth quarter was headed up by South Asia with 30 per cent growth in revenues for the region; while the African business saw revenues grow by 16.4 per cent.
“The year has ended on a satisfying note, both in operational and financial terms,” said Gopal Vittal, Bharti Airtel managing director (MD) and chief executive officer (CEO) for India and South Asia.
“I would like to place on record the outstanding quality of work put in by our employees, who have been instrumental in this achievement. Network and spectrum investments, a refreshed IT strategy, innovative service platforms and an energised organisation will enable sustained growth in India and South Asia.”
“The quarter was impacted by the seasonal downturn in parts of Africa and regulatory interventions in Nigeria,” said Christian de Faria, MD and CEO for Africa.
“In the last year, we successfully integrated the acquired business in Uganda, and are confident that we will repeat the success in Congo B. Our teams remain focused on accelerating growth through improving the quality of network, growing the data business and expanding Airtel money base.”
