Bharti Q1 revenue up 95% to Rs 539 crore

Our Convergence Bureau
31 July 2002

Mumbai: Bharti Tele-Ventures Ltd has registered strong growth as it announced its unaudited results for the quarter ended 30 June 2002.

The company has registered growth in every parameter compared to the corresponding quarter of the previous year. Its revenue grew by 95 per cent to Rs 539 crore and operating profit (EBITDA) by 101 per cent to Rs 138 crore during the quarter ended 30 June 2002 compared to the quarter ended 30 June 2001.

The key results (as per IAS on a consolidated basis) are as under:

The funded equity of the company as on 30 June 2002 was approximately Rs 5,180 crore, while the net debt was Rs 1893 crore, resulting in a very low net debt to funded equity of 0.37.

Bharti Enterprises chairman and group managing director Sunil Bharti Mittal says: As of today, Bharti Tele-Ventures has completed the launch of all but one service for which it had acquired licenses. We now provide mobile services in 14 circles, fixed line services in five circles, national long-distance services, international long-distance services, broadband, Internet and VSAT services.