Bharti Airtel

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Bharti Airtel, India’s leading telecom business groups and service provider , disclosed its low net profit growth of 2.3 per cent at Rs 2,209.80 crore for the quarter ending December 31, 2009. today. The low net profit growth weighed down heavily by low tariff and severe competition.

Total revenue of Bharti Airtel, as per the US accounting rules, rose over one per cent to Rs 9,772.20 crore during the December quarter, from Rs 9,633.4 crore in the corresponding period last year, Bharti Airtel said in a statement.

"In a hyper competitive situation like (the one) we are witnessing now in the industry, we have retained our revenue market share at 32 per cent and have a very strong EBITDA margin at 40 per cent, which shows our strong performance," Bharti Airtel Group CEO Manoj Kohli told reporters.

Bharti Airtel also gained 2.37 per cent over last close to trade at Rs 329.80 on the Bombay Stock Exchange as per the information.

Airtel is also expecting more competition from the new player, who are likely to start services in the next few months.

As per Indian accounting norms, Bharti Airtel posted over 13 per cent increase in net profit at Rs 2,236.90 crore. The total income rose to Rs 10,327.57 crore during the quarter from Rs 9,688.5 crore in the year- ago period.

Bharti Airtel reported a small rise in periodical profit growth, generally in line with expectations, as a nasty price war hits margins in the prosperous industry.