Bharti Q1 net up 48% at Rs 755 cr

India's largest cellular operator Bharti Airtel on Wednesday posted a 48 per cent rise in net profit at Rs 755 crore (Rs 7.55 billion) for the first quarter ended June 30, on the back of strong additions in its subscriber base.

The total revenue increased 53 per cent to Rs 3,856 crore (Rs 38.56 billion) in the first quarter, the company said.

Bharti Airtel, in which Singapore Telecom holds about 34 per cent and British mobile major Vodafone holds 10 per cent posted an EBITDA (earnings before interest tax depreciation and amortisation) of Rs 1,502 crore (Rs 15.02 billion) in the first quarter, which is an increase of 60 per cent on a year on year basis.

The company's cash profits touched Rs 1,333 crore (Rs 13.33 billion), up 34 per cent over the same quarter last year.

Bharti Airtel added the highest ever net additions of 36.51 lakh customers in a single quarter. However the company's average revenue per user was down by Re 1, to Rs 441 over the preceding quarter.

Bharti, the market leader with a market share of all India mobile subscribers of 22.5 per cent has a mobile subscriber base of 23 million.