India's Bharti makes $184m in three months
Bharti, the fourth-largest cellular firm globally by subscribers, said in a statement that consolidated net profit for the financial quarter to June climbed to 11.08bn rupees ($184 million), compared with 6.89bn rupees last year.
Revenue jumped 13.3% to 229.6bn rupees. The profit increase marked a third quarter of earnings growth after Bharti recorded nearly four consecutive years of decline.
But the company's African operations, purchased as part of Bharti's move four years ago to increase its global footprint, racked up more losses.
Net loss for the telecommunication company's African business increased from $52m last year to $137m for April to June quarter this year.
The figures come a day after the company announced that it now had 300m customers, an increase of 100m in less than two years.
Bharti's global strategy
Bharti, controlled by billionaire Sunil Bharti Mittal and one-third owned by Singapore Telecommunications, operates in 20 countries.
According to the Press Trust of India Managing Director Gopal Vittal said that the pace of growth across all segments has been satisfying but he highlighted a 68.2% growth in revenues from mobile data.
Fierce tariff competition has pushed Indian call rates down to among the world's lowest. But a 2012 court ruling scrapping licences of some smaller firms over a scandal-tainted spectrum sale, reduced congestion and gave firms scope to raise call prices.
Just three firms, Bharti, Vodafone and Idea Cellular account for nearly three-quarters of revenues and both Bharti and Vodafone bought more wireless spectrum in February to expand their services.
The biggest threat for Indian telecommunication companies, analysts say, is the looming entry of a new deep-pocketed rival, Reliance Jio Infocomm belonging to conglomerate Reliance Industries, controlled by India's richest man Mukesh Ambani.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.zaRelated
SACP rejects proposed VAT hike, urges tax system overhaul 24 Feb 2025 Icasa boosts community radio with spare spectrum, applications now open 27 Jan 2025 Facebook's global ad revenue expected to exceed $100bn 12 Dec 2024 Publicis Groupe raises revenue forecast for the second time in 2024 with 5.8% organic growth in Q3 18 Oct 2024 Icasa schedules hearings on Cell C spectrum licence transfer deal 10 Sep 2024 Malatsi opens nominations for Sentech board 10 Sep 2024 New standards and spectrum policy advance SA digital infrastructure 9 Sep 2024 Microsoft strong revenue growth shows that cloud is king 31 Jul 2024
