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Bharti Profit Rises 79%

NEW DELHI, India -- Bharti Airtel Limited (“Bharti” or “the company”) today announced its un-audited US GAAP results for its second quarter and half year ended September 30, 2006. It has once again maintained its strong growth momentum as it announced its operational and financial results.

The consolidated total revenues for the quarter ended September 30, 2006 of Rs. 4,357 crore grew by 61% and EBITDA of Rs. 1,702 crore grew by 67% on a year on year basis. The cash profit from operations of Rs. 1,644 crore grew by 75% over the corresponding quarter last year. The net profit during the quarter ended September 30, 2006 was Rs. 934 crore, a growth of 79% from the corresponding quarter of last year. The revenues & net profit for the first half ended September 30, 2006 was Rs. 8,214 crores and Rs. 1,689 crores, a growth of 57% & 64% over the same period last year respectively.

Bharti had over 2.86 crore customers, as on September 30, 2006, an increase in the total customer base of 90%, over the corresponding period last year and further consolidated its leadership position as on September 30, 2006.

Commenting on the results and performance, Mr. Sunil Bharti Mittal, Chairman & Managing Director, Bharti Airtel Limited, said, “this quarter, for the first time ever, India’s mobile net additions surpassed those of China. Wireless services continue to drive the growth of telecom services across the country with over 126 million subscribers. Bharti Airtel has delivered a strong performance in terms of revenue growth and market share driven by constant innovation and world-class services.”

Bharti Airtel Ltd. (Mumbai: BHARTIARTL)

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