Indian telecom majors post financial results

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Indian telecom majors post financial results

May 15, 2007

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Bharti Airtel, Reliance Communications and Idea Cellular have announced their financial results. Bharti Airtel's net profits for the year ended March 31, 2007 increased by 89 per cent, year on year, to Rs 42.57 billion. The company's revenues also increased by 59 per cent to Rs 185.2 billion during the period under review.

Meanwhile, Reliance Communications posted a 612 per cent increase in its consolidated net profit from Rs 4.44 billion in the year ended March 31, 2006 to Rs 31.63 billion in the year ended March 31, 2007.

The company's revenues also increased by 34 per cent from Rs 107.66 billion to Rs 144.68 billion. The newly listed company, Idea Cellular, also registered a 134.6 per cent increase in net profits from Rs 2.11 billion during the year ended March 31, 2006 to Rs 5.03 billion in the year ended March 31, 2007. During the period, the company's net sales rose from Rs 29.65 billion to Rs 43.66 billion.