Bharti Airtel Reports Q4 676631

NEW DELHI -- Bharti Airtel Limited (“Bharti Airtel” or “the Company”) today announced its auditedUS GAAP results for the fourth quarter and full year ended March 31, 2010.

The consolidated Total Revenues for the quarter ended March 31, 2010 of Rs. 10,056 crore grew by 2%, whileunderlying EBITDA of Rs. 3,920 crore declined by 2% on a year on year basis. Underlying EBITDA margins continuedto be robust at 39.0%, as a result of concerted cost optimisation initiatives. Net Income declined by 8% during thequarter, to Rs. 2,055 crore.

The consolidated Total Revenues for the full year ended March 31, 2010 of Rs. 39,615 crore grew by 7% andunderlying EBITDA of Rs. 16,124 crore grew by 6% on a year on year basis. The Company continued to leverage itsscale and unique business model to sustain underlying EBITDA margin at 40.7%, which is in line with previous yearmargin of 41.0%. The Net Income for the full year ended March 31, 2010 was Rs. 9,103 crore, a growth of 7% over lastyear. Strong Free Cash Flow of Rs. 5,448 crore resulted in Net Debt turning into a positive net cash position of Rs.1,281 crore as at March 31, 2010.

Bharti has 137.6 mn customers, as on March 31, 2010, across India, Sri Lanka and Bangladesh, an increase in the totalcustomer base of 41% over last year.

In a statement, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said “Bharti Airtelcontinues to be strongly positioned in India despite a hyper competitive market. We are confident of repeating oursuccess story in Sri Lanka and Bangladesh by winning the hearts of customers in these countries. On 30th March, wesigned an agreement to acquire the operations of Zain Africa in 15 countries and are working towards a closure at theearliest. This will be a new milestone in the history of Indo-Africa relations. With this acquisition, Bharti Airtel willbecome the world’s fifth largest wireless company in terms of customer base, with operations across 18 countries and afootprint covering 1.8 billion people across Asia and Africa. We are excited about the prospects of an eventful yearahead”.

Bharti Airtel Ltd. (Mumbai: BHARTIARTL)