Bharti Q2 net surges 73 pc | business | Hindustan Times
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Bharti Q2 net surges 73 pc

Riding on the high subscriber growth, Bharti Airtel says that its net profit jumped 73 per cent to Rs. 1,654 crore in the second quarter ended Sept 30.

business Updated: Nov 01, 2007 01:41 IST

Riding on the high subscriber growth, leading private telecom player Bharti Airtel said on Wednesday that its net profit jumped 73 per cent to Rs. 1,654 crore in the second quarter ended September 30 from Rs. 934 crore in the same quarter a year ago.

Its subscriber base has crossed 50 million to touch 51 million.

Compared with the previous quarter, net profit rose 6.8 per cent.

Revenues in the second quarter grew by 45 per cent to Rs. 6,337 crore from a year earlier, while quarter-on-quarter, the number was up 7.3 per cent.

Despite a dip in average revenues per user (ARPU) by 6.15 per cent to Rs 366, the operating margin of the company has improved due to its large size that reduces costs in overall terms.

“Going forward, we see strong demand for telecom services across all segments and we are well placed to take advantage of these growth opportunities,” said Sunil Mittal, the company’s chairman.

R-Com Q2 net zooms 86 pc

Anil Ambani Group company Reliance Communications on Wednesday posted an 86 per cent increase in its consolidated net profit at Rs 1,304.5 crore for the second quarter ended September 30.

Total income during the quarter grew by 29.87 per cent and stood at Rs 4,578.5 crore, the company said.

Patni Q3 net falls 16 pc

Patni Computer Services Ltd said on Wednesday its quarterly net profit fell 16 per cent on a stronger rupee and a one-time charge towards directors severance package. The company’s consolidated net profit for the quarter ending Sept. 30 was Rs 99.36 crore against net sales of Rs 674.74crore. The mid-sized software services company expects margins in the December quarter to drop by about 300 basis points on fewer working days and other costs, Chief Financial Officer Surjeet Singh said. Patni's Sept qtr net at Rs 99.36 crore.

Hindalco bucks rupee hit

Metals giant Hindalco Industries Ltd, the flagship company of the Aditya Birla Group, said on Wednesday that its net profit in the second quarter ended September 30 rose 8 per cent to Rs. 642.8 crore, from Rs. 597.6 crore in the same quarter of the previous year, despite a strong rupee that squeezed export profits.

Net sales and operating revenues grew by 7 per cent to Rs 4,959.7 crore in the quarter from a year earlier.

Of the total revenue of Rs 4,959.7 crore, aluminum business contributed Rs 1,785 crore, on the back of a production growth of 8 per cent. Margins were maintained due to an increased share of value-added products and higher sales volumes, the company said in a statement.

Hind Unilever profit down

Consumer goods major Hindustan Unilever Ltd on Wednesday reported a fall in second-quarter net profit to Rs. 408 crore, down 21.6 per cent from Rs. 530 crore in the year-ago period as a result of an extraordinary profit it had reported last year from the sale of Tata Chemicals shares.

The company that makes the popular Surf detergent and Pepsodent toothpaste also saw labour trouble during the quarter in its Assam unit which temporarily affected the production of personal products, skincare and oral care products.

"Material cost inflation remains a concern and we manage this through aggressive cost effectiveness and judicious price increases," Harish Manwani, chairman, HUL said in a statement.

Shares of HUL fell 5.2 per cent to Rs 207.6 on BSE. HUL commenced a buyback of shares to the tune of 55.16 crore equity shares at a price of Rs 230 per share in October. "We have declared a few days ago that we have reached the first stage of 5 per cent," said finance director D Sundaram.

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