Airtel Q4 net up 37 pct, beats forecasts
Bharti Airtel Ltd quarterly profit rises 37 per cent, beating forecasts as it adds more users in the world's fastest growing mobile market.business Updated: Apr 25, 2008 11:24 IST
Bharti Airtel Ltd, India's top mobile operator, said on Friday quarterly profit rose 37 per cent, beating forecasts as it added more users in the world's fastest growing mobile market.
Bharti, in which Southeast Asia's top phone firm, SingTel, owns more than 30 per cent, said net profit rose to 18.53 billion rupees ($461 million) under US accounting rules in its fiscal fourth-quarter ended March from 13.53 billion a year earlier.
A Reuters poll of 12 brokerages had forecast a net profit of 17.73 billion rupees for the New Delhi-based firm, which had almost 62 million mobile subscribers at end-March, up 6.8 million from end-December.
Shares in Bharti, India's fourth-most valuable firm at about $41 billion, fell 17 percent between January and March, not as sharp a loss as the benchmark index's 23 per cent fall.