India's largest private cellular operator Bharti TeleVentures has broken the Rs 500-crore net profit barrier, with the company on Tuesday announcing its net rose by a whopping 70 per cent to touch Rs 510 crore (Rs 5.10 billion) for the first quarter ended June 30, 2005.
The company's consolidated revenue for the quarter was up 48 per cent year-on-year to Rs 2,517 crore (Rs 25.17 billion) over the same period a year ago, according to the US GAAP results announced by the company on Tuesday.
It also added the highest ever Internet subscribers of 1,350,000 customers in a single quarter for the Q1.
Bharti is the market leader, with a 21 .5 per cent market share in the all-India wireless subscriber base.
"The first quarter results of the current fiscal has once again shown firm growth by Bharti TeleVentures," company CMD Sunil Mittal said.
"Having broken into the $2-billion club last quarter we are pleased to see the company leveraging its operational efficiency and its execution ability in its all-India presence which has enabled it to break the Rs 500-crore net profit barrier this quarter for the first time," he said.
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