Bharti Airtel, which acquired the African operations of Zain Telecommunications last year, had a net debt of $13.4 billion at the end of the first quarter of the current financial year.
Bharti's results included its new African operations that it acquired in June from Kuwaiti telecom group Zain.
Commenting on the deal, revenue secretary Sunil Mitra said, "I am proud India is going out and doing great things in the world sphere. I am proud as an Indian."
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
Bharti'suarterly revenue run rate continues to be hover around the $1.2 billion mar
But, unlike its competitors, it did not have a comprehensive infrastructure back-end and required fresh investments.
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
Two years ago, the number was 4,000, according to Indian businessmen.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
Liability goes up by Rs 1,000 cr for every Rs 1 change in $ exchange rate
Indian CEOs might like to make some serious course correction.
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