Bharti Airtel has reported a net profit of Rs. 25, 167 million, up 24 percent from Rs. 20,250 million reported for the same quarter last year. Consolidated revenues grew to Rs. 99,416 million for the quarter, up 17 percent year on year from Rs. 84,883 reported for Q1 last fiscal.
Deputy CEO Sanjay Kapoor said that the mobile business is going through a hypercompetive phase, and the company feels that its focus on building a “minutes factory” is coming through now. They grew their minutes traffic by 10.1 billion minutes this quarter, at 7.7 percent.
The key area of focus for Bharti Airtel is Rural now: Kapoor said that about 54% of their new customers come from Rural India. “That’s the route to go, and the business model has been attuned to service the customer in that fashion -whether we’ve got the right partners, or the collection process,” Kapoor said. Consolidated EBITDA margins increased for the quarter to 41.8 percent, from 41 percent last quarter.
Sri Lanka: Kapoor said that the company is now getting the dominant share of the new ads in Sri Lanka.
We’ll update with more inputs from the management, and charts on performance.