Bharti Airtel Reports Q2

NEW DELHI -- Bharti Airtel Limited (“Bharti Airtel” or “the company”) today announced its audited US GAAP results for the second quarter and half year ended September 30, 2008. It has once again maintained its strong growth momentum.

The consolidated total revenues for the quarter ended September 30, 2008 of Rs.9,020 crore grew by 42% and EBITDA of Rs. 3,699 crore grew by 37% on a year on year basis. The net income for the quarter ended September 30, 2008 was Rs. 2,046 crore, a growth of 27% over last year.

Bharti had 7.99 crore subscribers, as on September 30, 2008, an increase in the total subscriber base of 57% over the corresponding period last year and maintained its leadership position through an improved market share of all India wireless subscribers at 24.6% as on September 30, 2008, up from 23.4% corresponding to the same period of last year.

Commenting on the results and performance, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said “With record customer additions every month, Airtel continues to consolidate its leadership position in the market. The successful launch of DTH service has provided another opportunity to the brand to strengthen it’s connect with the customers, while generating a new revenue stream.”

Bharti Airtel Ltd. (Mumbai: BHARTIARTL)