Bharti Posts Rs 619.4 crore profit

As per international accounting standards Bharti Group has posted a net profit of Rs 619.4 crore for the year ended 31 March 2004 (FY-04) as compared to a net loss of Rs 133.7 crore for the year ended 31 March 2003 (FY-03). Total revenue has increased from Rs 3055.7 crore in FY-03 to Rs 5035.5 crore in FY-04.

The group posted a net profit of Rs 303.7 crore for the quarter ended 31 March 2004 (MQ-04), an increase of 54 percent as compared to a net profit of Rs 69.9 crore for the quarter ended 31 March 2003 (MQ-03). Total revenue has increased from Rs 1008.84 crore in MQ-03 to Rs 1576.02 crore in MQ-04.

The service arm of Bharti Group, Bharti Tele Ventures Ltd has posted a net profit after tax of Rs 80 lakh for the quarter ended 31 March 2004 (MQ-04) as compared to a net profit after tax of Rs 1.06 crore for the quarter ended 31 March 2003 (MQ-03). Total revenue has increased from Rs 4.56 crore in MQ-03 to Rs 7.11 crore in MQ-04.

The company has posted a net profit after tax of Rs 37 lakh for the year ended 31 March 2004 (FY-04) as compared to a net profit after tax of Rs 22 lakh for the year ended 31 March 2003 (FY-03). Total revenue has increased from Rs 18.98 crore in FY-03 to Rs 30.08 crore in FY-04.

Commenting on the results for the quarter, Bharti Tele Ventures chairman and group MD Sunil Bharti Mittal said, "In what was the most challenging year for the telecom industry, Bharti has once again demonstrated strong growth and has shown profits for the full year of 2003-04. During the year, Bharti also made significant progress towards its goal of being the preferred provider of telecom services to its customers. Focused strategy, improved execution, partnership with global leaders in IT and cellular infrastructure and the confidence of all our stakeholders has now given us the size and scale to attain our objective of being a globally admired telco." 

CyberMedia News