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India’s Bharti Airtel Q4 profit jumps 21 pct

MUMBAI, April 29, 2009 (AFP) - India's top mobile phone company Bharti Airtel reported Wednesday that fourth-quarter net profit jumped 21 percent year on year, boosted by a rise in the number of cellular phone users.
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For the full year, the New Delhi-based company announced a 26 percent jump in net profit to 84.
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69 billion rupees (1.68 billion dollars) on a 37 percent increase in revenues to 369.
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61 billion rupees.

Net profit for the three months to March 31 rose to 22.

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39 billion rupees from 18.5 billion rupees in the same quarter last year as revenues grew 26 percent to 98.2 billion rupees, the company said.
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The firm based its figures on US accounting standards.

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Bharti boosted its customer base by 8.

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3 million during the fourth quarter to nearly 94 million subscribers, while its client based climbed by more than 46 percent year-on-year.
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Bharti has a 24 percent market share of India's wireless market.

"Our focus on rural penetration and customer affordability led to strong growth," said Sunil Mittal, chairman and managing director of Bharti Airtel.

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"The India growth story continues and we expect revival of the economy in the second half of this fiscal year," he said in a statement

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